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Factors banks must consider before granting or issuing loan to customers.
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[QUOTE="Kingsley, post: 210847, member: 30278"] There are indeed alot of things a wise person must consider before lending out his or her hard ewrn money to mostly a stranger, let alone a bank be it microfinance bank or online loaning applications. Although we know that technically there is no country in the world today where they do not borrow or seek loans from either the world bank or IMF or from other countries. This is true for even the advance countries of the world, in fact in those advanced countries their citizens live off on loans and they are highly indebted. That said, loanshas show ober the years as the only way to get out of tight situations and the money that wise business people access are used wisely to create profit and increase business equity. Hence for a bank to gallantly issue out loans they will first access all the books of account of the existing business, books like their balance sheet, their comprehensive income statement and they will also check their flow statement. They will also request and check that the collateral that is been presented by the borrower, to ensure it can cover the amount the customer is requesting. They will also check the customers account history with them. [/QUOTE]
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Factors banks must consider before granting or issuing loan to customers.
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