A Good Rejection
''No'' isn't always a dirty word...sometimes it can even get you a loan.
When you're applying for a business loan, you'd logically think a lender's "no" would sound the death knell to your chances of obtaining financing from that lender. But according to Charles H. Green, author of The SBA Loan Book (Adams Media), "no" doesn't have to be the end of the line for your loan.
"There are many ways a lender can say no," Green notes. "Listening to and analyzing the negative reply to the loan request is the next step in the loan application process." Following are some of Green's translations you can use when interpreting a lender's rejection:
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