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Business line of credit
October 1, 2025
Top 4 financial mistakes to avoid when apply for business loan
The most common business debate isn't as black and white as you might think
- Don't Know Your Financials - Understand your business's current cash flow, financial statements, and overall financial health to ensure you can repay a loan
- Have a Weak Business Plan - A strong, detailed business plan with clear financial projections, market analysis, and growth strategy is crucial to convince lenders of your viability.
- Don't Research Lenders - Failing to compare multiple lenders means you might miss better terms, rates, or financing options that are a better fit for your business.
- Apply for the Wrong Loan - Business loans aren't one-size-fits-all; research to find the type of financing that aligns with your specific needs.
Abraham Olaoye
Abraham Olaoye has been a business, funding, and tax advisor since 2010. With his vast experience in tax, business development, and real estate finance syndications, he has built various business startups in technology, real estate, healthcare, transportation, and logistics by providing tax advisory services, capital, and project management.
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