You know what honestly frustrates me? Seeing good businesses get turned down by big banks when they have great margins, solid revenue, and a business that's actually doing well.
Like, you've built a business from the ground up, you're making money, you have customers, you know your numbers, and you're ready to grow. You go to the bank thinking you're doing everything right, and then... denied. My first business was a matcha syrup company. We were running at a 60% profit margin, $50k revenue months. I needed capital to grow and got DENIED.
What else am I supposed to do?
I get that banks have their own criteria, and not every business is going to fit into their box. But it still seems crazy to me that a business can be fundamentally healthy and have real potential, yet struggle to get the capital it needs to take that next step.
I work in business financing now, so I know that the bank saying no is not end all be all. Different lenders look at different things, and sometimes the key is finding the right fit.
Has anyone here been turned down by a bank and felt like what they said just didn't make sense for your business?
Like, you've built a business from the ground up, you're making money, you have customers, you know your numbers, and you're ready to grow. You go to the bank thinking you're doing everything right, and then... denied. My first business was a matcha syrup company. We were running at a 60% profit margin, $50k revenue months. I needed capital to grow and got DENIED.
What else am I supposed to do?
I get that banks have their own criteria, and not every business is going to fit into their box. But it still seems crazy to me that a business can be fundamentally healthy and have real potential, yet struggle to get the capital it needs to take that next step.
I work in business financing now, so I know that the bank saying no is not end all be all. Different lenders look at different things, and sometimes the key is finding the right fit.
Has anyone here been turned down by a bank and felt like what they said just didn't make sense for your business?
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