There are a couple of old sayings that relate to getting a loan. The first one is that bankers only want to lend money when you don't need it. As frustrating as that is, it's understandable, since bankers naturally want to minimize their risks.
However, you can change the odds of getting cash when you need it by gaining a clearer understanding of the lending process.
Loan officers will look for at least two sources of repayment and possibly a third:
There's another aspect of the loan application process from the lender's viewpoint. The loan officer is generally going to investigate how the Five C's of Credit apply to you. Those C's are: Capacity, Collateral, Capital, Character and Conditions.
The other old saying: Forewarned is forearmed. Understand the process, be prepared to explain how you fit in with the Five C's. Be convincing and you boost your chances of borrowing the money you need.
Get in touch today and find out how we can help you meet your objectives.