The rate of approval for small business loans is typically fairly low, with rates among banks, credit unions and other lenders averaging between 20 and 40 percent. That means that far more entrepreneurs hear the word “no” from lenders than those who hear “yes.” While have a loan application rejected can be disappointing, it is even more frustrating to be rejected without knowing why. Many business owners coming away from being turned down for financing without having any idea why they did […]