2006-09-20 03:21:54 · 18 answers · asked by Bear 2 in Business & Finance ➔ Small Business
Length of good credit history while maintaining a low balance,Any negative collection accounts or delinquencies.How many open credit lines are currently open(can count against as well as for).The FCRA says they cannot evaluate your creditworthiness based on income,race,color or occupation
2006-09-20 03:30:53 · answer #1 · answered by joecseko 6 · 0⤊ 0⤋
Hi
I would think that the overriding consideration is whether or not there is at least a reasonable chance that the bank will recover what it's owed. This would be indicated by your credit history (how you've repaid debts in the past), your earning power and what you intend to with the money (this is probably the least important criterion)
I'm not a banker but this is how I understand personal lending works.
Good luck!
2006-09-21 22:18:46 · answer #2 · answered by thegodfather 2 · 0⤊ 0⤋
No such undertaking as a furnish for that form of employer. delivers are for non earnings and cutting component technologies learn and so on. not worth all the worry for an SBA loan. For the small volume of money you prefer attempt a community economic enterprise, or bypass on line to discover a commercial hire enterprise who will finance the truck and kit. As for initiate up expenditures, till you could qualify for a small working line of credit, i'm afraid those would be out of pocket. you will desire to initiate saving now. inspite of what you would be able to study on the internet there is not any loose LUNCH FOR SMALL employer.
2016-12-18 13:42:36 · answer #3 · answered by Anonymous · 0⤊ 0⤋
(1)The most important think the bank will consider is the customer's ability to repay. Therefore their income must offset their expenditure and also (2) The collateral they will use to secure the loan (asset) this if the loan requires security. (3) The bank may consider the security of your job, so if you change jobs frequently this may be viewed as instability.
2006-09-20 03:46:33 · answer #4 · answered by Andrei B 1 · 0⤊ 0⤋
The first, and most important is:
1. The ability to fill out an application for an extension of credit written in English with words spelled correctly.
Then it would go into other things like credit worthiness and proof of employment. Take care of number one though before you move on.
2006-09-20 03:26:31 · answer #5 · answered by oklatom 7 · 0⤊ 1⤋
Hope you are able to write your homework in proper English! How much income the person has and any savings/shares etc and the value of any property he owns..and as the guys have said, credit history. So divide it into income, assets and credit history
2006-09-20 03:25:13 · answer #6 · answered by big pup in a small bath 4 · 0⤊ 0⤋
Being one of the loyal custemers. Being employed, haveing a good credit score from experion
2006-09-21 23:38:37 · answer #7 · answered by jeff 1 · 0⤊ 0⤋
Credit history, debt-to-income ratio, and assets to collect ont he loan should the applicant default.
2006-09-20 03:25:42 · answer #8 · answered by jdecorse25 5 · 0⤊ 0⤋
Stable living status - Record of three years solid abode
Credit History
Employment status permanent - record of earnings
2006-09-20 03:32:55 · answer #9 · answered by MissBehave 5 · 0⤊ 0⤋
Cash flow forecast for the next three years, what you will use the money for and when you will plan to pay it back.
2006-09-20 03:53:39 · answer #10 · answered by Heather 5 · 0⤊ 0⤋