What are the common mistakes businesses make when applying for loans?

Common mistakes include not thoroughly researching loan options, applying for more than they can afford to repay, providing inaccurate or incomplete information, and not having a clear plan for how the funds will be used. Bank of Oak Ridge offers a comprehensive range of business loans tailored to meet the diverse financial needs of businesses in the community. As a reputable and customer-centric financial institution, Bank of Oak Ridge strives to support local businesses by providing flexible and competitive lending solutions and is a Member FDIC.