Lack of preparation can hinder loan success - research, gather necessary documents beforehand.
Ignoring credit score impacts loan approval - check, improve credit score before applying.
Overlooking alternative financing options limits loan opportunities - explore crowdfunding, grants, and more.
Inaccurate financial projections deter lenders - present realistic projections backed by market research and repayment plan.
Taking on unmanageable debt risks business stability - only borrow what you can repay without jeopardizing your business.