Definition of «small business loan applications»

The phrase "small business loan applications" refers to requests for loans that are made by small businesses. A small business is typically defined as a company with fewer than 100 employees and may have annual revenues of less than $5 million. Small business owners often need capital to start, expand or maintain their operations, and one common way they can obtain this funding is through a loan from a bank or other financial institution. A small business loan application typically includes information about the company's finances, its plans for using the loan proceeds, and its creditworthiness. The approval of such an application depends on factors like the borrower's ability to repay the loan, the collateral offered by the business, and the institution's assessment of the business's future prospects.

Sentences with «small business loan applications»

  • Banks reject around 80 % of small business loan applications. (finder.com)
  • Participants will take a step into the lender's shoes to evaluate small business loan applications. (10ksbapply.com)
  • Still, not every potential borrower manages to figure out how to cope with small business loan application form. (personalmoneyservice.com)
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