So before we dive in, what exactly do I mean by “hurt” your business? Well, these credit and lending mistakes could do any of the following (this is not a complete list, of course):
- Slow your growth
- Damage your brand
- Make the difference between a profit and a loss
- Cause your business to fail
At the very least you’ll slow your growth or limit yourself from being able to handle the curve balls that are part of business life cycles. It’s also important to state the obvious, which is that we’re only talking about debt capital solutions – borrowing money. We are not going to discuss equity financing mistakes made with VCs, angels, private equity firms and so on...