Applying for a business loan in this day and age is, to be fair, something of a lottery. Banks are turning down even candidates with exemplary records of credit, citing the uncertain financial situation and their need to be consistent and careful with the money they invest - money which is, after all, deposited by their customers. Unwise investment has proven to be the downfall of many banks, and the results are what we see every day on news broadcasts. As banks collapse and businesses go bust, shame faced bank executives are admitting that they did not take enough care over what they did with customers' money. Not that that is any consolation to the people who are losing their homes and watching their pension plans fall through, of course.
There cannot, though, be irresponsible lending without irresponsible borrowing. The loans that banks have been unable to recoup were, very often, taken by people who had no idea how they were going to pay them back. Banks can only do so much to check your reliability, and if you have a clean credit record it is still eminently possible to borrow a significant amount of money. Being offered a large loan is tempting indeed, but you need to be certain that you will be able to meet the payments on any money that you borrow. If you do not, then before too long you may well find yourself defaulting on your loan and unable to continue operating. And once you have saddled yourself with a poor business credit rating, you can forget ever asking for a large loan again.
Making sure that you are responsible with any money that you borrow is absolutely essential. Only ever borrow as much as you need. a decade or so ago, when markets were buoyant, the term "speculate to accumulate" was a motto of many a business. In this day and age, speculation is a dangerous thing. You need to audit your spending plans thoroughly and if you ca run the business without something, the best policy is not buy it.
Making sure you are borrowing sensibly may seem horribly boring, but the home truth in this situation is that you must subject yourself to some boredom at the outset so that your company can remain afloat long enough to enjoy the days of success which should await it if you handle your borrowing sensibly and sanely. If you do this with one eye on the future at all times, you can make your business work. You owe that to yourself.