7 Things You Should Get Handy When Seeking a Bank Loan
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Many startup businessmen usually go for bank loan as the primary source of funding.
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A well written business plan is essential when applying for loans.
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Business plan can be written with the help of online software.
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Lending institutions are always on the lookout for ways to reduce their lending risk.
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Commercial banks will usually request for collateral.
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It will be easier to get a bank loan if your business has insurance cover.
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Banks will scrutinize your profit and loss for the past three years.
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Banks will ask for an audit of your finances.
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If your business falls in some key ratios, your future chances of getting loan drops.
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You have to show your repayment plans.
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