{"id":2843,"date":"2018-08-16T10:15:48","date_gmt":"2018-08-16T07:15:48","guid":{"rendered":"https:\/\/www.lending-express.com\/blog\/?p=2843"},"modified":"2019-12-22T13:46:38","modified_gmt":"2019-12-22T11:46:38","slug":"reasons-for-business-loan-rejection","status":"publish","type":"post","link":"https:\/\/www.become.co\/blog\/reasons-for-business-loan-rejection\/","title":{"rendered":"8 Reasons Why Your Business Loan Application Was Rejected"},"content":{"rendered":"\n\n<p>Whether<span style=\"font-weight: 400;\"> you\u2019re a business owner at the very beginning of your venture or simply need some extra cash to expand or keep your business afloat, receiving funds can make or break your business.<\/span><\/p>\n\n<p><span style=\"font-weight: 400;\">Hearing \u2018rejected\u2019 can be as heartbreaking as trying and failing to pursue your teenage crush but there it is &#8211; rejected.<\/span><\/p>\n\n<p><span style=\"font-weight: 400;\">But don\u2019t close your doors just yet, like anything in life, there are logical reasons <\/span><span style=\"font-weight: 400;\">as to why your business is being turned down for a loan everywhere&#8230;<\/span><\/p>\n\n<h2 style=\"text-align: left;\"><span style=\"font-weight: 400;\">Top 8 reasons why business loans are rejected<\/span><\/h2>\n\n<p><span style=\"font-weight: 400;\">The sooner you understand the \u2018why\u2019,\u00a0<\/span><span style=\"font-weight: 400;\">the sooner you can reach the \u2018how\u2019. <\/span><i><span style=\"font-weight: 400;\">How <\/span><\/i><span style=\"font-weight: 400;\">you can turn it all around, and get the funds you need to take your business forward and ultimately reach your goals.<\/span><\/p>\n\n<p><span style=\"font-weight: 400;\">The ability to secure business funding and avoid business loan rejection ultimately comes down to a lenders confidence in your ability to repay a loan. It doesn\u2019t come down to your personal credit score alone, there are other and more specific factors that you also need to understand. \u00a0<\/span><\/p>\n\n<p><span style=\"font-weight: 400;\"><strong>Here are 8 common reasons for business loan rejection<\/strong><\/span><\/p>\n<h3><span style=\"font-weight: 400;\"><br \/>1. Your credit score is too low &#8211; for both of your credit scores!<\/span><\/h3>\n<p><span style=\"font-weight: 400;\">Say wha? You may automatically assume we\u2019re talking about your personal credit score and you were rejected on this alone, but &#8211; and this is a BIG but &#8211; when it comes to getting a business loan, your business credit score will also be taken into account. Sure your personal score is important, especially if you\u2019re the sole owner of your company, but your business credit score will also be taken into account so be sure to <\/span><a href=\"https:\/\/www.become.co\/blog\/how-often-you-should-check-your-credit-score\/\" target=\"_blank\" rel=\"noopener noreferrer\"><span style=\"font-weight: 400;\">check your credit score<\/span><\/a><span style=\"font-weight: 400;\">. <\/span><\/p>\n\n<p><span style=\"font-weight: 400;\">If you\u2019re scratching your head here then you\u2019re not alone. According to The Small Business American Dream Gap <\/span><a href=\"https:\/\/www.nav.com\/insights\/\" target=\"_blank\" rel=\"nofollow noopener noreferrer\"><span style=\"font-weight: 400;\">Report<\/span><\/a><span style=\"font-weight: 400;\">, 42% of small business owners don\u2019t know that they actually have a separate business credit score and 82% don\u2019t actually know how to interpret it. This simple misunderstanding is seriously harming business owners and the sooner they understand this element, the better (more on understanding this later). <\/span><\/p>\n\n<p><b>When it comes to your credit scores, you\u2019ll appear risky if:<\/b><\/p>\n\n<ul>\n<li><span style=\"font-weight: 400;\">You fail to make payments on time<\/span><\/li>\n<li><span style=\"font-weight: 400;\">Have a lot of outstanding debt<\/span><\/li>\n<li><span style=\"font-weight: 400;\">Have a high credit utilization ratio &#8211; more on that in the section below<\/span><\/li>\n<\/ul>\n\n<p><b>It is possible to get accepted for a loan if your credit scores are low <\/b><span style=\"font-weight: 400;\">if you&#8217;re performing well in other areas (mentioned in points 3-4 below) which could counterbalance your score. <\/span><\/p>\n<h3><span style=\"font-weight: 400;\"><br \/>2. Misuse of your debt utilization<\/span><\/h3>\n<p><span style=\"font-weight: 400;\">There are so many reasons for business loan rejection but one of the main ones could be to do with your credit utilization rate or \u2018balance-to-limit-ratio\u2019. This is basically how much you owe compared to the amount of credit available to you. <\/span><\/p>\n\n<p><span style=\"font-weight: 400;\">When it comes to your personal credit score, lenders want to see that you\u2019re using no more than 30% of the total amount of credit available to you. So for example, if your credit limit for all of your cards is $10,000, you\u2019ll need to keep your total credit card balances below $3,000 in order to keep your credit utilization rate low. <\/span><\/p>\n\n<p><span style=\"font-weight: 400;\">On the other side of things, having no debt at all is another red flag to lenders. A lack of history of responsibly using credit will only highlight your inexperience with debt management &#8211; not a good look when it comes to applying for a loan. <\/span><\/p>\n\n<p><strong>Top tip to manage debt utilization: <\/strong><\/p>\n<p><span style=\"font-weight: 400;\">Keep track of your credit limits for all lines of credit, personal and business credit cards and any other credit sources and make the small calculation to figure out the range you need to stay within. Using the <a href=\"https:\/\/www.become.co\/blog\/what-is-debt-service-coverage-ratio-dscr\/\" target=\"_blank\" rel=\"noopener noreferrer\">debt service coverage ratio (DSCR)<\/a> will also help you determine if you can afford to take a business loan to begin with.<\/span><\/p>\n\n<h3><span style=\"font-weight: 400;\">3. You&#8217;re a very young business<\/span><\/h3>\n<p><span style=\"font-weight: 400;\">Commercial loan denial reasons can vary greatly and one of the reasons could have something to do with your business\u2019s age.<\/span><\/p>\n\n\n<p><img decoding=\"async\" class=\"wp-image-1732 aligncenter\" src=\"https:\/\/www.become.co\/blog\/wp-content\/uploads\/2017\/09\/hourglass-time-hours-sand-39396-1024x772.jpeg\" alt=\"\" width=\"424\" height=\"319\" srcset=\"https:\/\/www.become.co\/blog\/wp-content\/uploads\/2017\/09\/hourglass-time-hours-sand-39396.jpeg 1024w, https:\/\/www.become.co\/blog\/wp-content\/uploads\/2017\/09\/hourglass-time-hours-sand-39396-300x226.jpeg 300w, https:\/\/www.become.co\/blog\/wp-content\/uploads\/2017\/09\/hourglass-time-hours-sand-39396-768x579.jpeg 768w, https:\/\/www.become.co\/blog\/wp-content\/uploads\/2017\/09\/hourglass-time-hours-sand-39396-358x270.jpeg 358w\" sizes=\"(max-width: 424px) 100vw, 424px\" \/><\/p>\n\n\n<p><span style=\"font-weight: 400;\">You probably wouldn\u2019t want to be the first patient of a new dentist trying his hand at pulling out his very first tooth. Likewise, you wouldn\u2019t want to be the first lender handing your money out to an inexperienced business owner whose only been running for a couple of months. Either way, it could all end rather messily (sorry for the graphic analogy but hopefully you get the point).<\/span><\/p>\n\n<p><span style=\"font-weight: 400;\">Lenders feel much cozier wrapped up warm in safety blanket, i.e. when they know they\u2019re lending to an established business, at least 1-2 years old. So, if you have a good monthly revenue, and credit scores but are still being snuffed by the banks and even alternative lenders, it could be coming down to your short time in business. <\/span><\/p>\n\n<p><span style=\"font-weight: 400;\">Other than time travelling to the future, there are viable options for younger businesses in the form of <\/span><a href=\"https:\/\/www.become.co\/start-up-loan\/\" target=\"_blank\" rel=\"noopener noreferrer\"><span style=\"font-weight: 400;\">start up loans<\/span><\/a><span style=\"font-weight: 400;\"> or crowdfunding. Where there\u2019s a will, there\u2019s a way.<\/span><\/p>\n\n<h3><span style=\"font-weight: 400;\">4. You applied with the wrong lender<\/span><\/h3>\n<p><span style=\"font-weight: 400;\">Every financial institution has different criteria when it comes to providing <\/span><span style=\"font-weight: 400;\">funding solutions. And while it\u2019s most difficult (and time-consuming) to get a <a href=\"https:\/\/www.become.co\/blog\/bank-loans-vs-online-loans\/\" target=\"_blank\" rel=\"noopener noreferrer\">traditional bank loan vs alternative business funding<\/a>, it may be that there is a lender out there who you could match with, waiting for you to find them. <\/span><\/p>\n<p><span style=\"font-weight: 400;\"><br \/><\/span><strong>Need a loan, been refused everywhere? We have a solution:<\/strong><\/p>\n<p>The solution<span style=\"font-weight: 400;\"> is right here at Become. We realized this was a big problem for business owners and designed our revolutionary technology to match business owners such as yourself, with lenders they <em>can<\/em> qualify with. <\/span><\/p>\n\n<p><b>How to apply:<br \/><\/b><\/p>\n\n<ol>\n<li><span style=\"font-weight: 400;\">Enter your details into the application &#8211; apply here for <\/span><a href=\"https:\/\/www.become.co\/business-loans\/\" target=\"_blank\" rel=\"noopener noreferrer\"><b>business loans<\/b><\/a>.<\/li>\n<li><span style=\"font-weight: 400;\">We will cross-reference your data with all of our lending partners to see with which one you can qualify &#8211; with no hard credit check in sight. <\/span><\/li>\n<li><span style=\"font-weight: 400;\">You will only be shown relevant loan offers &#8211; compare and choose.<\/span><\/li>\n<\/ol>\n\n<p><span style=\"font-weight: 400;\">If you\u2019re in the \u2018I need a loan but keep getting declined\u2019 group then Become can help you find out where you went wrong and what you can do about it&#8230;<br \/><\/span><\/p>\n<p><b>\u00a0<\/b><\/p>\n<p><img decoding=\"async\" class=\"aligncenter wp-image-8135 size-large\" src=\"https:\/\/www.become.co\/blog\/wp-content\/uploads\/2019\/07\/score-1200x722.jpg\" alt=\"LendingScore\u2122 Dashboard\" width=\"640\" height=\"385\" srcset=\"https:\/\/www.become.co\/blog\/wp-content\/uploads\/2019\/07\/score-1200x722.jpg 1200w, https:\/\/www.become.co\/blog\/wp-content\/uploads\/2019\/07\/score-300x180.jpg 300w, https:\/\/www.become.co\/blog\/wp-content\/uploads\/2019\/07\/score-768x462.jpg 768w, https:\/\/www.become.co\/blog\/wp-content\/uploads\/2019\/07\/score-449x270.jpg 449w, https:\/\/www.become.co\/blog\/wp-content\/uploads\/2019\/07\/score.jpg 1024w\" sizes=\"(max-width: 640px) 100vw, 640px\" \/><\/p>\n\n\n<p><b>Our LendingScore\u2122 provides you with a personalized free dashboard explaining why YOU were denied a loan with effective ways to increase your chances of getting approved.<\/b><\/p>\n\n<h3><span style=\"font-weight: 400;\">5. You applied with too many lenders<\/span><\/h3>\n<p>There are a couple of main problems <span style=\"font-weight: 400;\">with sending off lots of loan applications.<\/span><\/p>\n\n<p><span style=\"font-weight: 400;\">First of all, when you apply with different lenders one-by-one, your credit score will take a hit each time. That means a lower credit score, and even more difficult approval odds for you next time around.<\/span><\/p>\n\n<p>Second of all, if a lender is part of an <a href=\"https:\/\/www.become.co\/blog\/online-marketplace-for-business-lending\/\" target=\"_blank\" rel=\"noopener noreferrer\">online business lending marketplace<\/a> like Become, then they&#8217;ll see if you applied through multiple avenues (directly through them, through a broker, through a marketplace, etc.). If you have multiple loan applications going out to the same lender (whether intentionally or not), the lender will often deny you right off the bat. A &#8216;desperate&#8217; borrower is typically not a sign of a &#8216;good&#8217; borrower &#8211; at least in the eyes of lenders.<\/p>\n\n<h3><span style=\"font-weight: 400;\">6. Your business revenue isn\u2019t quite there<\/span><\/h3>\n<p><span style=\"font-weight: 400;\">This one is simple, if you aren\u2019t making enough revenue, it shows you may not be capable of paying back your loan. On top of that, if you\u2019re spending more money than what\u2019s coming in, then you will need to work on solving that cash flow problem. <\/span><\/p>\n\n<p><strong>How to work on your cash flow:<\/strong><\/p>\n\n<ul>\n<li><span style=\"font-weight: 400;\">Use effective invoicing systems<\/span><\/li>\n<li><span style=\"font-weight: 400;\">Always have a safety net of emergency funds (and a <a href=\"https:\/\/www.become.co\/blog\/business-disaster-recovery\/\" target=\"_blank\" rel=\"noopener noreferrer\">business disaster recovery plan<\/a> to use those funds effectively)<\/span><\/li>\n<li><span style=\"font-weight: 400;\">Cut unnecessary expenses<\/span><\/li>\n<li>Learn the <a href=\"https:\/\/www.become.co\/blog\/gross-profit-vs-net-profit\/\" target=\"_blank\" rel=\"noopener noreferrer\">difference between gross and net profit<\/a><\/li>\n<\/ul>\n\n<h3><span style=\"font-weight: 400;\">7. You don&#8217;t have enough collateral<\/span><\/h3>\n<p>If you&#8217;re aiming to get approved for <span style=\"font-weight: 400;\"><a href=\"https:\/\/www.become.co\/unsecured-business-loans\/\" target=\"_blank\" rel=\"noopener noreferrer\">unsecured business loans<\/a>, then this won&#8217;t be a concern for you. But for many, if not most, other types of financing solutions, lenders will require that you have valuable assets that can be used as security to back the loan.<\/span><\/p>\n\n<p>Collateral can come in the shape of a house, heavy equipment, an automobile, etc. It may appear like a sort of &#8216;chicken-and-the-egg&#8217; situation where you can&#8217;t afford to purchase business equipment without a loan, but you can&#8217;t get approved for the loan because you don&#8217;t have enough valuable assets.<\/p>\n\n<p>This is a big reason why you should consider the different types of business loans available at your disposal &#8211; and their requirements &#8211; before applying.<\/p>\n\n<h3><span style=\"font-weight: 400;\">8. You submitted invalid documents<\/span><\/h3>\n<p>This may be the most important reason why your business loan application was rejected. Keep in mind that, no matter how impressive your credit score is, how long you&#8217;ve been in business, or how strong your revenue is, etc. &#8211; if you submit documents that are inaccurate or incomplete, lenders won&#8217;t be able to confirm that all of those shining credentials of yours are as great as you claim.<\/p>\n\n<p>Take the time to go over each step of your loan application with careful consideration so that you don&#8217;t waste your time and do damage to your credit score.<\/p>\n\n<p><b><\/b><span style=\"font-weight: 400;\"><strong>As you can see<\/strong>, there are many reasons for business loan rejection, and here we\u2019ve only touched upon a few. At least now, with Become, you can discover specifically why your business was denied a loan and what you can do about it.<\/span><\/p>\n\n<p><img decoding=\"async\" class=\"aligncenter wp-image-3060 size-large\" src=\"https:\/\/www.become.co\/blog\/wp-content\/uploads\/2018\/10\/iStock-817261098-1200x801.jpg\" alt=\"\" width=\"640\" height=\"427\" srcset=\"https:\/\/www.become.co\/blog\/wp-content\/uploads\/2018\/10\/iStock-817261098-1200x801.jpg 1200w, https:\/\/www.become.co\/blog\/wp-content\/uploads\/2018\/10\/iStock-817261098-300x200.jpg 300w, https:\/\/www.become.co\/blog\/wp-content\/uploads\/2018\/10\/iStock-817261098-768x513.jpg 768w, https:\/\/www.become.co\/blog\/wp-content\/uploads\/2018\/10\/iStock-817261098-405x270.jpg 405w, https:\/\/www.become.co\/blog\/wp-content\/uploads\/2018\/10\/iStock-817261098-1024x683.jpg 1024w, https:\/\/www.become.co\/blog\/wp-content\/uploads\/2018\/10\/iStock-817261098.jpg 1254w\" sizes=\"(max-width: 640px) 100vw, 640px\" \/><\/p>\n\n\n<h2><span style=\"font-weight: 400;\">What are your next steps after a business loan rejection?<\/span><\/h2>\n\n<p><span style=\"font-weight: 400;\">The ways that you can improve your business loan application are a dime a dozen. We\u2019ve narrowed it down to a list of 4 easy-to-follow strategies for boosting your ability to get business funding.<\/span><\/p>\n\n<p><b>How to improve a business loan application:<\/b><\/p>\n\n<h3><span style=\"font-weight: 400;\">1. Utilize LendingScore\u2122 technology<\/span><\/h3>\n<p><span style=\"font-weight: 400;\">Looking for the best way to improve your business loan application? Look no further! The proprietary <\/span><a href=\"https:\/\/www.become.co\/blog\/lendingscore\/\" target=\"_blank\" rel=\"noopener noreferrer\"><span style=\"font-weight: 400;\">LendingScore\u2122<\/span><\/a><span style=\"font-weight: 400;\"> technology developed by Become provides valuable in-depth insights that business owners simply won\u2019t find elsewhere. Not only does the LendingScore\u2122 Dashboard list the precise factors that are impacting your ability to obtain funding, but it also ranks them according to how much of an impact each one has on your fundability. Become then goes the extra mile by giving business owners tailored advice on exactly what you need to change so that your business loan application will result in approval.<\/span><\/p>\n\n<h3><span style=\"font-weight: 400;\">2. Build your credit score<\/span><\/h3>\n<p><span style=\"font-weight: 400;\">A poor credit score will make it more difficult to qualify for many business financing options, but fortunately there are ways to improve your credit score (and your fundability). Aside from paying off existing debt, managing your debt utilization responsibly, and making future credit card payments on time, you can <\/span><a href=\"https:\/\/www.become.co\/blog\/raise-credit-with-credit-score\/\" target=\"_blank\" rel=\"noopener noreferrer\"><span style=\"font-weight: 400;\">build your credit score with a credit card<\/span><\/a><span style=\"font-weight: 400;\">. It will take some time, but a strong credit score is worth the invested energy since it will open up many business loan options that would otherwise be out of reach.<\/span><\/p>\n\n<h3><span style=\"font-weight: 400;\">3. Double-check all forms<\/span><\/h3>\n<p><span style=\"font-weight: 400;\">While it may seem like a no-brainer to most business loan applicants, you\u2019ll want to be absolutely sure that you research the required documents for each application that you fill out. Whether you fill a form incorrectly or forget to fill it out altogether, it only takes a minor mistake to disqualify your application for a loan. Double and triple-check that you\u2019ve filled the application out in its entirety, and that all of the information you provide is accurate and up-to-date.<\/span><\/p>\n\n<blockquote>\n<p><b>Important note:<\/b><span style=\"font-weight: 400;\"> Applying for business financing through <\/span><a href=\"http:\/\/www.become.co\" target=\"_blank\" rel=\"noopener noreferrer\"><span style=\"font-weight: 400;\">Become<\/span><\/a><span style=\"font-weight: 400;\"> eliminates the need to fill out multiple applications for multiple lenders. With one fast and easy online application and dozens of top lenders to possibly qualify with, Become makes applying for business loans a breeze.<\/span><\/p>\n<\/blockquote>\n\n<h3><span style=\"font-weight: 400;\">4. Maintain consistency with finances<\/span><\/h3>\n<p><span style=\"font-weight: 400;\">Lenders will investigate your financial history, usually by looking back through your bank records. That will include your bank balance from month-to-month, your monthly revenue, monthly deposits, and so on. If those numbers fluctuate dramatically from one month to the next, it will be a signal to lenders that your business lacks stability (which adds to the risk the lender takes on).<\/span><\/p>\n\n<p><span style=\"font-weight: 400;\">Do your best to keep your bank balance, monthly revenue, monthly deposits &#8211; and really all of your bank activity &#8211; consistent. If you\u2019re facing difficulties as a result of unpaid invoices piling up, you should develop strategies for <\/span><a href=\"https:\/\/www.become.co\/blog\/unpaid-invoices\/\" target=\"_blank\" rel=\"noopener noreferrer\"><span style=\"font-weight: 400;\">dealing with non-paying customers<\/span><\/a><span style=\"font-weight: 400;\">.<\/span><\/p>\n\n<h2><span style=\"font-weight: 400;\">Alternative finance options<\/span><\/h2>\n\n<p><span style=\"font-weight: 400;\">The fact of the matter is that some financing options will be more difficult to qualify for than others. SBA loans, for example, offer some of the best terms and conditions for small business owners in need of financing. With competitive interest rates, low down payments, and the ability for poor credit scores to qualify, it\u2019s understandable why getting approved for SBA loans is more difficult &#8211; because small business owners find them so desirable!<\/span><\/p>\n\n<p><span style=\"font-weight: 400;\">Another example of a funding solution that is generally more difficult to qualify for is an unsecured business loan. While they have the advantage of not requiring any collateral to be put up as security, in order to qualify for unsecured business loans you\u2019ll need a strong credit score. Additionally, since lenders take on more of a risk in providing loans that aren\u2019t backed by assets, they balance that risk by increasing interest rates. In short, the benefits offered by certain business loan types often come with a more demanding set of qualification criteria.<\/span><\/p>\n\n<p><span style=\"font-weight: 400;\">On the other hand, there are a number of business loan options that tend to be easier for small businesses to qualify for. Asset-based loans, compared to unsecured loans, have lower interest rates, lower credit score requirements, and have much lower down payments. Of course, the borrowing business owner will be placing his or her valuable assets at risk if payments aren\u2019t made on time.<\/span><\/p>\n\n<blockquote>\n<p><span style=\"font-size: 16px;\"><b style=\"font-weight: normal;\">Of course, the type of business will affect the kind of <a href=\"https:\/\/www.become.co\/loans-by-industry\/\" target=\"_blank\" rel=\"noopener noreferrer\">industry loans<\/a> a business needs, as well as the specific circumstances that business finds itself in. Be sure to weigh your options carefully in order to choose the right funding solution for your business.<\/b><\/span><\/p>\n<\/blockquote>\n\n<p><b>The bottom line:<\/b><span style=\"font-weight: 400;\"> Depending on your business\u2019s specific financial situation, certain loan types may be better options than others. Always be sure to do your research before applying for small business financing.<\/span><\/p>\n\n<p><b><i>Disclaimer: The information contained in this article is provided for informational purposes only, should not be construed as legal advice on any subject matter and should not be relied upon as such. The author accepts no responsibility for any consequences whatsoever arising from the use of such information.<\/i><\/b><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Whether you\u2019re a business owner at the very beginning of your venture or simply need some extra cash to expand or keep your business afloat, receiving funds can make or break your business. Hearing \u2018rejected\u2019 can be as heartbreaking as trying and failing to pursue your teenage crush but there it is &#8211; rejected. But [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":2844,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[13,114,1,12],"tags":[389,390],"class_list":["post-2843","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-aus-resources","category-small-business-wisdom","category-uncategorized","category-us-resources","tag-application","tag-qualifications"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.2 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>8 Reasons Why Your Business Loan Application Was Rejected - Business Funding Blog<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.become.co\/blog\/reasons-for-business-loan-rejection\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"8 Reasons Why Your Business Loan Application Was Rejected - Business Funding Blog\" \/>\n<meta property=\"og:description\" content=\"Whether you\u2019re a business owner at the very beginning of your venture or simply need some extra cash to expand or keep your business afloat, receiving funds can make or break your business. Hearing \u2018rejected\u2019 can be as heartbreaking as trying and failing to pursue your teenage crush but there it is &#8211; rejected. 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