As a trusted advisor to your small business customers, you never want to be the one to say “No”. Nonetheless tightening regulation is making “No” an increasingly common answer. “No” your company is too early to receive bank lending, “No” the facility size requested is too small, or “No” we can’t work with companies with historical losses.
Dwight Funding and InterContinental Beverage Capital are teaming up to provide working capital for companies in the beverage and consumer packaged goods industries.
Far too frequently, small and mid-sized businesses are being rejected from traditional bank financing. The reasons vary for each business - too small, not profitable enough, too young. One thing each of these businesses has in common, however, is the need to Get Bank Ready.
Bank financing is often the choice for many small and mid-sized businesses. For these businesses that qualify, bank financing is great - offering low cost solutions tied to banking relationships. The problem, however, is that many applicants are being rejected by traditional banks, facing obstacles such as size, profitability, and years in business. Given limitations of national and community banks today, these options may not be the best initial solution for small businesses.
You start your day excited, put on your favorite outfit and think "this is finally the one!" You walk up to the front door hoping this first meeting will lead to a profitable relationship. But once again, you get rejected. You're crushed, wondering, "Is it the way I look? The way I talk?" You've been on one too many hot dates - with the bank.