Business loan

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Blackcat50

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I’m trying to get this business loan from this agency but my business hasn’t been open for 6 months… how can the agency tell my business hasn’t been open that long if I’m providing statements that go back that far??
 
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What kind of business do you run? Do you have official pages on social media? If so, they can easily check that to verify your data.
 
Cause thems their rules. Anyone can open and have a business for 6 months. Thats why commercial loans, are usually reserved for after a 3 year period. You have to prove your business works without loans first, and for a sustained period that proves its profitability.
 
Anyone giving a loan is going to do a background check that will show when the company was registered and will know. Also loans come with verifying income with bank statements showing your business hasn't been operating for over 6 months.
 
MagicAccount said:
What kind of business do you run? Do you have official pages on social media? If so, they can easily check that to verify your data.
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nope no social media or anything of that nature, I'm faking the statements of the amount the business making per month! so can or cant they tell!?
 
xelaa said:
Anyone giving a loan is going to do a background check that will show when the company was registered and will know. Also loans come with verifying income with bank statements showing your business hasn't been operating for over 6 months.
Click to expand...
how is running a background check on the business account holder have any affect them seeing info on when the business was created!? confused
 
Blackcat50 said:
how is running a background check on the business account holder have any affect them seeing info on when the business was created!? confused
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LLC formation is public record you can see registered companies easily.
 
Loans are only profitable for the people giving it out if they can guarantee the solvency of the business. The longer a business is existing, the higher is the percentage of it being leaded the right way and being solvent.
 
You just need to check if you have all the required documents for the loan first.
 
You didn't give us any information about where and what's your situation is.
How can we advise you when we don't know the full picture.
 
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