I'm a minority, queer owner of a small business that is doing well. We need funds for the next step of getting a lease, equipment, inventory and employees. I applied for a loan and the application UI system is amazing. But the process was terrible. I had to do this back-and-forth to get help and after two months, they denied my application.
The wording was vague but from my understanding, they denied it because I don't have a long debt history and because I have debt. So I believe they wanted me to have debt but denied me because of debt. But my only debt is our credit card but that has been paid on time.