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Small-business Funding: Where to Go When the Bank Says No

November 8, 2012

Service businesses make up a significant part of the economy, especially with laid off workers and other corporate refugees setting up shop as consultants. But try getting a loan to fund one.

Jeff Goldstein, a former Procter & Gamble brand manager and Cincinnati-based business consultant, learned that lesson the hard way when he needed a bank loan to buy a market research firm.

His lawyer told him he ought to look into financing the deal with help from the U.S. Small Business Administration. Lucky he did: all 10 banks Goldstein approached took a look at his bid for AcuPOLL Research

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