8 Hidden Factors That Decide Your Loan Approval
The Big Myth About Credit Scores When folks think about getting an SBA loan, they always stress about their credit score. They think a perfect score is like a VIP pass straight to approval. But here’s the scoop: while a good score is required to start, it's usually not the final answer for those big SBA loans. The whole sba loan process is a super deep look into your company's life story, not just a quick check of your credit number. Lenders are really looking for signs of stability and commitment that you can't see on a credit report. If you want your application to jump ahead of the line, you need to know about the hidden factors they actually care about. Factor 1: Are You Really Committed? (Your Own Cash) Banks hate taking risks alone. A huge signal you can send them is that you are willing to risk your own hard-earned money right alongside theirs. This is what we call "skin in the game," and it’s a seriously overlooked part of the sba loan process. If you...