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Bank Declined Your Application?
How many of you walk into your local bank and take what they say as the final decision for your life. Raise your hand. Don’t be shy, not all at once now.

But then what happened? The bank declined your application?

Well, I guess that’s it then. The bank said I’m not approved, I guess I should quit. Abort plan. I’ll try again later when they tell me I’m good enough to be approved. Maybe I’ll just wait for them to pre-approve me instead?

First of all, stop that! Quit that defeated, woah as me attitude. You most definitely have options. There are alternatives. Alternative lenders to be exact. You may be thinking pay day advance, but I’m not talk about them either. There are plenty of institutions that will give you a personal or business loan. Need to finance a vehicle, that means you have collateral to put up. Mortgage, yup, that means your home is the collateral. There’s a lender for just about anything. Just do your research.

It Was Never That Serious

Never feel like you’re cheating on your home bank by thinking about going elsewhere. There are so many private lenders and smaller financial institutions competing for your business. Talk to them to see what they can offer you in terms of rate, terms, and even bundles. All you have to do is look, ask questions, and do your research.

How We’re Raised

Banks have a lot of influence because they have strength in visibility and accessibility. Just think about it, you’ve been brought up since you were little that mommy and daddy keep their money in the bank, and they go to the bank to get money.

Let’s do another quick poll. How many of you joined the bank that your parents banked with as your first financial institution? Did you even consider going to another bank? Did you know Credit Unions were an option? Most likely no, and of course we don’t learn about these at school either.

Remember, the bank wants you to know only what they tell you. Through their advertisements and promotion they position themselves as the smart and convenient choice, and they do a heck of a good job too. Sure, there’s many good features of schedule 1 banks, but just know, there’s so much more out there to discover.

Got the Entrepreneurial Spirit?

Business owners can get into a slump when they get turned down for funding to start or expand their venture. But there’s other ways! There are grants, free training, consulting, and special programs that maybe available to help aspiring entrepreneurs like yourself. Be diligent and seek the advice of professionals outside of the bank. Keep your ear to the grand, ask around to see who knows who that could potentially help, and stay informed.

So, whether you’re an individual, business owner, or investor, seek out the answers to your problems, until you’ve found them. There’s a pathway to your solution, some maybe longer than others, but they don’t all lead to a traditional bank.

For assistance in finding the funding you need, be sure to connect with me and I’ll be glad to help you in your search. There isn’t just one solution to solving your problem, and it might not be the solution you were thinking. So say peace out to your local bank and live a little on the alternative side.

Post Author: Chadene Mbouogno

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