It is important that the professional lender remains objective, avoiding the temptation to become emotionally commited to other than providing a service. The borrower may well have been planning the project over a long period and expects an inmediate answer... however, the lender must take the time necessary to reach a lending decission, it is not in the interest of either party to get it wrong...
The deccission must been taken following certain principles and structure:
Take a look at the diagram for more on this process.
The deccission must been taken following certain principles and structure:
- is the borrower known and competent?
- who introduced him?
- to what use will the monnies be put?
- is the amount reasonable?
- can he repay the debt when due?
- is any security available and cost effective?
Take a look at the diagram for more on this process.
RSS Feed
