Considerations for commercial loan application
1. Before preparing to apply for a commercial loan, reasonable planning, assessing the current situation of the family and your future economic strength, determining the down payment and the loan cycle, the monthly repayment amount, cannot let the family appear much financial pressure.
2. To apply for a business loan, you must have a good credit history to do so.
3. For the mortgage of the house, to properly assess its value, if the age of the house is too large, it does not meet the requirements of the bank, in general, within 10 years is appropriate, some banks also require within 5 years.
4. As a borrower applying for a commercial loan, the owner of the property must not be able to use the property that is not in his name for a mortgage. So not everyone can apply.
5. According to the loan institution, the borrower must provide proof of salary, bank flows and other certificates in order to improve the borrower's credit history and speed up the approval time.
