The Simple Task That Could Help You Get Approved For A Business Loan

This article originally appeared on Forbes.com

Levi King, CEO & Co-Founder of Nav.com

The devil is in the details. And when you’re applying for a business loan, there are a lot of details.

My company, Nav, in a recent survey of 648 U.S. business owners, discovered that "70% of small business owners without a business checking account were turned down for a business loan in the past two years." The top reason they didn’t have a business checking account? They didn’t have time to set one up, even though they wanted one.

What they may not realize is that, by not taking 15 minutes to set up a separate business checking account, they could have just cost themselves an opportunity to grow their business and, in the process, protect their own finances.

Category: 
Business planning and strategy
Financial tools and management