Securing a loan from a bank could be cumbersome if one is oblivious of the necessary procedures to be taken.
Banks are in the business of making money. One of the ways through which banks make money is from interest income on loans to businesses.
The whole process or methods used by banks to ascertain the creditworthiness of a borrower is very rigorous. Whatever process the bank you may seek for a loan from is, there are some guiding principles which will help you get a loan faster.
Whether or not you are applying for a commercial loan, real estate financing, a line of credit for business working capital, some of the basic lending principles of banks still apply. They are known as the 5 C’s of lending;