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Funding a business
What banks look at before funding a business
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[QUOTE="Good-Guy, post: 246166, member: 29109"] There are many things a bank might consider before granting loans to the business. Of course reputation of business might be an important factor before considering providing loans to a business. However, reputation is not the only thing because not all the businesses are as popular as Google, Microsoft, Apple, Saudi Aramco, etc. There are so many businesses out there that are not popular, but still banks do provide them with the loans. I think that bank usually considers the nature of business first, as this is the first and foremost thing. If you visit a bank branch, they will not ask you for your credit history, business popularity, or reputation. However, they will first consider your ability to pay the loan back and the nature of your business as well. Only after analysing all these first and foremost thing, they will consider other factors. I am not saying that reputation and credit history are not important, though. A business with a really bad reputation in the market will surely get the loan rejected. Apart from all this, they will also consider your ability to provide mortgage to the banks as security.This is a kind of back-up bank considers before providing loans. This is because mortgage is very important and the business party that has the ability to offer assets as mortgage to the bank have a much higher chances of getting their loans approved. [/QUOTE]
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What banks look at before funding a business
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