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| *Loan,banking and credit>>>bank loan |
When you take out a loan for a business why does the bank need to see the businesses financial records? |
When you take out a loan for a business why does the bank need to see the businesses financial records? to figure out if the company is going anywhere and also to see how big of a risk they are taking by giving your business a loan. To make sure you can pay it back. Because they are interested in whether they'll get their loaned money back. To keep their risks in check. They need to know that you have a going concern that they are likely to get their money back from. They need to see if the company is making any money and they need to know that there is a way for the company to pay them back without foreclosure or filing bankruptcy. I work with financial cases and I have to make sure that when I make a loan out to the costmer they have a way to pay us back. To measure risk, figure out what interest rate to charge and what financial ratios will determine default, determine the maximum amount they are willing to loan, and of course to make sure the company can pay the loan. |
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