the likelihood of your bank approving you depends not just on your business's financials but also on the bank’s overall approval ratio for business credit lines.
Why Work with American Capital Group and Not Your Banker
Most businesses, when seeking capital, naturally turn to their local bank. It makes sense—the business has had a deposit account there for years, building a relationship. However, the likelihood of your bank approving you depends not just on your business's financials but also on the bank’s overall approval ratio for business credit lines.
Your bank’s approval ratio is the percentage of applicants who actually receive a line of credit. When you originally opened your business account, this wasn’t a primary concern. However, now that you’re in need of financing, this statistic becomes crucial. Many traditional banks have stringent approval requirements that disqualify a significant number of applicants.
A banker won’t reveal whether you’ll be approved or denied until after you apply. This means signing a credit application, which triggers a credit inquiry. Hard inquiries can lower your credit score by 4-8 points per check. If you apply to multiple banks, the impact can be even greater.
In most cases, banks reject credit line applications and instead offer a business credit card. While credit cards have their place, they don’t provide the cash flow assistance that most businesses truly need.
At American Capital Group, we take a smarter approach. We do not run your credit upfront, so your credit score remains unaffected while we assess your options. Our expansive network includes both local and national banks that specialize in providing business lines of credit. We exclusively work with small-business-friendly lenders who have high approval ratios, increasing your chances of success.
Rather than limiting yourself to a single bank with restrictive approval criteria, why not gain access to multiple lenders eager to support your business? American Capital Group connects you with the right financial institutions that truly understand and cater to your business needs.
Apply today and take the first step toward securing a business line of credit with a lender that wants to work with you.
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