Mastergp
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Many people like collecting loan from either the bank or from friends for important purpose most times those problems are usually urgent, important or even unimportant to them but due to fact that they do not have any other means of making this money they seek loan from friends,
Most people like collecting loan from friends and relative they don't work hard to earn money what they like doing best is to get loan from others, still one need to bear in mind that is one thing to give out loan and it another thing to pay back the money we owe.
They are factor will need to consider before granting loan and they include the following:
Purpose of the loan:
The bank will want to know the purpose or reason why a customer will need loan.
Ability to pay back the loan:
The bank is also interested to know the financial capability of the customer to repay back the loan at expiration.
Credibility of the customer:
The commercial bank will study the credibility of the customer to determine his credit worthiness.
Source of income to repay the loan:
when the loan is given out, the bank is interested in knowing the source of income available to the customer to repay the loan including the interest.
Most people like collecting loan from friends and relative they don't work hard to earn money what they like doing best is to get loan from others, still one need to bear in mind that is one thing to give out loan and it another thing to pay back the money we owe.
They are factor will need to consider before granting loan and they include the following:
Purpose of the loan:
The bank will want to know the purpose or reason why a customer will need loan.
Ability to pay back the loan:
The bank is also interested to know the financial capability of the customer to repay back the loan at expiration.
Credibility of the customer:
The commercial bank will study the credibility of the customer to determine his credit worthiness.
Source of income to repay the loan:
when the loan is given out, the bank is interested in knowing the source of income available to the customer to repay the loan including the interest.