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How do you convince a bank to give you a loan!
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[QUOTE="Kingsley, post: 207094, member: 30278"] Convincing a bank to grant you access to their loan facility may look simple but it is not as easy as it may sound due to the documentation that will be required from you by the bank. And they have a very rigorous procedure they use in evaluating their client that is coming forward for the loan. So for to win their heart you must do your home work very well, by having a critical understanding of the business you are intending to do or the one you have started. Then you need to prepare a proposal and it will contain all the income statement and your flow Statement and comprehensive income statement. To prove to them your business has doing so well and all you need the money for will be for expansion or to start up a viable business then those statement will be projections. Another thing you will have at the back of your mind is having a collateral or a guarantor that will stand in for you just in case there is any form of default in the payback period. Then one should also consider having everything backed up by law one can get a lawyer to assist you in the process although it not basic. [/QUOTE]
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How do you convince a bank to give you a loan!
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