asked 209k views
5 votes
It is often easier for a brand-new business to get a loan than an existing business. True Or False

2 Answers

2 votes
it would be false because starting a new business is way harder than keeping up with an existing one
answered
User Frank Flannigan
by
9.4k points
6 votes

Answer:

False

Step-by-step explanation:

It is very difficult for a start-up to get a loan. Banks usually request businesses to present a cash flow in order to get a loan, but if the company has just been established there is nothing to show.

That is why government entities and other private organizations offer financing options to entrepreneurs, e.g. SBA loans or grants, crowdfunding, venture capitalists

answered
User Alan MacK
by
8.1k points

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