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Want That Business Loan Approval? Here’s the Glow-Up Guide

Written by:

Adam Beckles

Edited by:

Kristin Marino

Updated on September 4, 2025

pile of money in hard hat Small business loan approvals have dwindled within the past year. According to a survey by the New York Federal Reserve it has become harder to get a small business loan approved, particularly for those who were seeking microloans.

According to a survey of over 500 businesses in the Northeast area only 58 percent of applicants sought a microloan ($100,000 or less), most often for short-term working capital. Nearly 30 percent of businesses surveyed didn’t apply for loans between May 2011 and April 2012 because they didn’t think they would be approved; of those who applied, 63 percent received only partial credit. Forty-three percent of businesses plan on applying for more credit within the next year, a majority of them being those who only received partial credit.

Small businesses are still recovering from the economy, but now it has become even more difficult for them to stay afloat. For those who intend on opening a new business they also face the challenge of getting approved for a start-up business loan as some lenders are weary of taking a risk on a start-up.

According to the Small Business Administration, the total number of small business loans has dropped by seven percent in comparison to a six percent decrease the previous year.

There are many ways to prepare for applying for a start-up business, or small business loan online.

Research the financial institutions you plan on applying to.
Gather the documents you need, such as your credit report, and be sure to go over them to check for any inaccuracies.
Prepare for an interview with your potential lenders.

The Takeaway

Researching and finding the right lender for you is one of the most important steps in applying for and getting Approved for a Business Loan. Speaking to a professional and figuring out what loans and lenders will work for you is just as important. AmONE’s trained Money Coaches can help you with the process of finding a business loan online. Get started by contacting us; your call to us is free. We can help you find a lender that fits your needs, and assist you with getting your credit report and any credit repair you may need so you have your best chance of getting approved for a business loan.

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Advertiser Disclosure*. The financial products and services on this site are from advertisers from which AmONE receives compensation. Compensation may be based upon whether you click on certain links on this site or buy products or services from those advertisers. We do not receive compensation from consumers. The placement of advertisements on this site are based in part upon the compensation AmONE has or expects to receive from those advertisers. Placement of advertisements does not reflect our recommendation of any advertisers' products or services. Please consult a financial services professional before making any financial decisions. Our advertisers do not include all the financial products and service providers available in the marketplace.

Loan availability, rates, APRs (Annual Percentage Rate), and other terms vary by advertiser and borrower attributes, including borrower location. Lenders have a range of available APRs; only borrowers with excellent credit will qualify for the lower rates. As of 01/11/2024, our advertisers were offering loans to some consumers for as little as a 6.40% APR on a three-year $100,000 loan.

We do not provide financial products or services. Rather, AmONE provides administrative and marketplace services by attempting to connect consumers with service providers offering products and services such as debt settlement and personal loans. We do not take applications or make credit decisions. We may not be able to match you with any of our advertisers. Credit and other decisions and terms are determined by our advertisers based upon the consumer's submission of an application to the advertiser, which may obtain other information about the consumer from third parties. Approval for financial products and services by an advertiser is not guaranteed.

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