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What To Do If Your Loan Application Gets Rejected?
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[QUOTE="btaliat, post: 210181, member: 26390"] Having loans rejected may be a sad news especially for someone that doesn't have many alternatives. The person may end up losing his business ideas because of lack of fund. However, if such thing happens, the following are next steps to take. First, there is need to know the reason for the rejection. For some banks, it may because the person doesn't have strong collateral, it may because the person doesn't have a good financial reputation among other reasons Having know these, then one can be working towards amending the ones that are amendable. There is need to look for alternative too. Remember, loan is not the only way by which money can be sourced for business. There are other ways as well. Those alternative like borrowing from friends and relatives can be considered and even working harder to increase personal saving may be a better option. [/QUOTE]
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What To Do If Your Loan Application Gets Rejected?
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