SOURCE: New Business Funders

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June 20, 2016 18:41 ET

New Business Funders Helping Business Learn How to Avoid Pitfalls When Seeking Startup Loans, Lines of Credit

SCOTTSDALE, AZ--(Marketwired - June 20, 2016) - New Business Funders (http://www.newbusinessfunders.com), a service that connects business owners to low-interest business lines of credit, has just released a new publication that's designed to help new businesses learn what steps they need to take to get approved for startup loans and lines of credit they need to succeed.

Getting approved for startup loans via conventional banks can feel like an uphill battle. Often, they want to see at least a six-month business history, and lenders take a good look at your sales receipts, banks statements, profit and loss statements and even your personal credit score, too. Assuring that you have everything in order before applying can increase your chances of approval.

But having all of your ducks in a row ahead of time does not always guarantee that you will get the green light, warns Troy Bohlke, spokesperson for New Business Funders, a company that specializes in helping new businesses secure lines of credit.

"If you are seeking startup capital, it can feel like you are covered in red tape from banks," Bohlke says. "It's always good to triple-check everything beforehand and to consider your alternative options. For example, many times you will find it's a lot easier to get approved for a more lucrative business line of credit that comes with a more favorable interest rate and easier requirement and repayment terms."

Bohlke's company regularly publishes helpful guides and articles that are designed to aid business owners who are seeking funding. You can read their new guide online at: http://newbusinessfunders.com/how-to-apply-for-a-startup-business-loan.

About New Business Funders

New Business Funders helps connect startups to the lines of credit they need in a simple and efficient manner. Using their broad network of banks that are eager to loan money to startups, NBF helps get new businesses the credit lines they need without the runaround. Just a 680 FICO score or better gets your business approved for a line of credit from $10k to $250k with low interest and easy repayment options. No tax returns, bank statements, automated payments, business statements or sales receipts required. It really should be this easy to fund your new business.

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