Traditional lenders make it difficult
Working capital loans can enable your business to get the funding when and where you need it most. Traditional lenders require good credit, want to review your resume, a detailed business plan, two years of financial paperwork, collateral, plus they want a detailed plan how the funds are going to be used. The application typically takes 40+ hours to complete. If you are approved it can be a month or longer before you get the capital you need. Rejection rates have been roughly above 80% over the past several years with on SBA loans. If you have any issues the application is denied.