Of course not! In fact, the volume of bank loans to large companies, multinationals and big businesses are increasing every year. So, what are the secrets of getting your small business loan application approved? How can you become one of the few African entrepreneurs who walk out of the bank with all the money they need to start up and grow their dream business? This article teaches you everything you need to know about small business loans and how to apply for and get the capital you need from the banks! Wait a minute. Are you sure you really need a bank loan? A lot of people make mistakes with bank loans. Just so were clear before we go further into this article, a bank loan is not the only way to raise the capital you need to start and grow your business. In fact, bank loans are probably one of the more expensive and difficult ways for startups and small businesses to raise capital. Unlike family, friends and investors who can wait for your business to turn a profit before they get their returns on investment, bank loans and interest must be paid as soon as they fall due, whether your business makes a profit or not. And if youre not careful, high bank interest rates can wipe out all the profit your small business makes.
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