Banks will lend to a startup if the lead entrepreneur has a track record and is well connected in the local area.

Question

Quizplus · Accepted Answer

While having a track record and local connections may increase the chance of obtaining funding, banks typically rely on factors such as credit history, business plan, and collateral for lending decisions. Startups without a track record may also seek funding from alternative sources such as angel investors or crowdfunding.

Banks Will Lend to a Startup If the Lead Entrepreneur