Frank Kasimov, director of explained common mistakes small businesses make when applying for a business loan.
These mistakes include: not knowing ahead of time what type of business loan small business needs, not keeping up to date accounting records, waiting too long to apply for a loan, and not clearly explaining a reason for needing a loan.
Frank also explained that business loan lenders look at several factors like monthly revenue, time in business and personal credit score when underwriting a loan.
Small business owners that watch this interview will learn why it is not profitable for big banks to give loans to small businesses.

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