10 yr old company, profitable every year, last year was the best ever, already exceeded those numbers for this year. good reputation, diverse large base of business customers (no consumer). Demand for services is increasing dramatically because of govt regulation. Minimal debt and I pay my bills.
Yet I can’t get a loan.
Sorry you are having trouble getting financial help you need with your business.
I’ve heard that there are investors out there who help businesses expand. I have no idea what their interest rates or expectations about equity sharing in the business are, but, maybe you will find someone that way to give your business the financial boost it needs. Sounds like, for whatever reason, that you just aren’t going to get a conventional bank loan/line of credit.
Small local banks are probably the best avenue to try.
One of the main issues besides the actual value and potential of your company is .....your business is only worth what it is because YOU are there running it. Be able to show a “business plan” that includes what’s happens if your not there for some reason, how the business will continue to operate in your absence.
I see one post suggesting private money where I think they are referring to “Angel Investors” some of them are not so angelic and usually only want opportunities with huge upside then take too much in return. The up side is usually NO collateral but they really have to believe in you - again your “Business Plan”.
Private money is how many of us go these days - which can be fine depending on the terms you can get. For collateral they may want something not tied to the business - like your house or other property. Most want 1st deeds of trust.
The bottom line will be the true value of your business vs what you intend to borrow the money for and how you can demonstrate how that will increase cash flow and profits.
Good luck