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Unit 4 Assignment on the small loan business plan. Please see the assignment attached below.
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Running head: SMALL LOAN COMPANY
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Small Loan Company
Name
Tutor
Institution
Course
Date
SMALL LOAN COMPANY
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Accessing loans from banks has become harder for small startup businesses. These small
businesses do not qualify for bank loans mainly because they have not been in operations for
long and therefore have not established good credit history. These businesses also need urgent
funding and may not have time to go through bank loan application process which involves a lot
of paperwork and a long approval process. The small loan business will aim at offering
unsecured loans to small startup businesses which lack credit history. The lending business will
utilize new technologies to make the process more efficient. Cutting edge technologies will be
used in evaluating businesses based on their potential performance and not credit scores and this
will be the key determinant of a business’s credit qualification. Financing a small business is a
huge challenge especially because the process can be time consuming. Small businesses may not
have much time to follow up bank loan application processes. The small loan bu...