Business loan requirements and applications are not standardized. However, lenders tend to look at certain metrics when deciding if your business is performing well enough to receive a business loan. Business loans tend to have a low approval rate. Big banks only approved 14.2 percent of small business loan requests in February 2023, according to Biz2Credit. But you may help your odds by knowing what you will …

In the eyes of lenders, your creditworthiness is measured by your credit score. Lenders use this three-digit score to determine how likely you are to repay your debts, and therefore, how risky a borrower you are. Those with higher credit scores reap the rewards, like a low or zero-percent interest rate, higher credit limits and lower monthly payments. But what …