Here’s what usually happens with our business loans. We’ll get a call from somebody who wants to go into business and wants an immediate loan. The individual usually has bad credit. However, they have a hot business idea and need the money right away. We’ve never met this individual before. We set up a one-hour consulting meeting with the individual and explain the loan process. We explain how the individual will need to complete either a business plan or a business plan questionnaire. We had the individual the loan application packet. Nine times out of ten we never see that individual again.

What’s the moral of the story. You can’t get a business loan simply by stating that you want a business loan. Business loans need to be paid back. We at LMB are actually more concerned about the financial liability and impacts to you if the loan goes bad. We want to protect you as we feel that your business idea may not be as such a quick money maker as you may think.

Here’s what you can expect with our business loan process. We assume that you are credit-challenged. So, our joint effort is to work with you so that you can submit a strong business loan application that will show how you will be generate a net profit and pay back the business loan.

What's another moral for getting a business loan. Be persistent and patient.