Whether it’s changing regulations or new funding options, obtaining a loan for your business can feel like a mystery. It’s time to pull back the curtain and demystify commercial lending.
In this episode, I chatted with Chris Layne, Senior Vice-President and Director of Commercial Banking at EVB. For over 10 years Chris has been helping local small business owners get the funds they need to operate, expand, and grow their business. He’s also made an impact on his hometown of Huntington, WV as a co-founder of TeamKRL, a non-profit organization that provides life skills to middle school and high-school students.
Click to listen and learn:
- The most common reasons business owners need a loan
- What’s the difference between a business loan and a line of credit
- The most important aspect to getting a loan that most business owners overlook
- Why you should be wary of unsolicited commercial loans from unfamiliar institutions
- What steps to expect in the commercial loan process
- Who ultimately decides if your business loan gets approved
- How you can benefit even if your loan isn’t approved