Scraped Knees and Rejected Business Loans

A friend of mine in business banking recently lamented that he’s had to reject most of the small business loan applications that have crossed his desk over the last few weeks. I suspect uncertainty in the changing tax laws is a contributing factor, but it’s likely that there are other culprits as well.

A big problem, according to my friend, is the pitch.

Even owners who he personally knows run successful and established business have failed to give him the impression that they are successful.  Some seem nervous about the process and others are simply unprepared. So they get rejected.

But here’s the key to getting the loan: being okay with that initial rejection.

Learn from it. Loan officers like my friend want you to get the loan because what’s good for your business is good for theirs, so they will offer you advice on how to do it the next time. And the next time. And the next time, if it comes to it.

Just remember that you can’t learn to ride a bike without scraping your knees.

Good luck and good hunting.



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The Fisher Law Office is renowned for its experience in estate planning, probate administration, asset protection, and business development. Annapolis attorney Randall D. Fisher has practiced for over 20 years, maintains the highest peer review rating for ethics (AV Preeminent) by Martindale-Hubbell, and is a sucker for long walks on the fairways.

Find out how to reach Randy via or find him at, on Twitter @thefisherlawoffice, or at

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One Response to Scraped Knees and Rejected Business Loans

  1. Pingback: Elements of an Effective Business Plan | Planning for Your Wealth

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