What small business is doing wrong when applying for a bank loan

What small business is doing wrong when applying for a bank loan
25 Apr, 2021 05:00 PM
6 minutes to read
Small business owners need to have their financials in order before applying for a loan. Photo / File
Small business owners need to have their financials in order before applying for a loan. Photo / File
Start-up business owners should forget trying to get a bank loan unless they have housing equity to fall back on and those who have been in business a few years will need to have clean
financials if they want to borrow.
That's the advice from Gordon Stuart, a former ANZ head of agri-banking who has set up a new business called Chaperon alongside former ANZ chief economist Cameron Bagrie to help small businesses secure loans from banks.

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