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Six Criteria Banks Use to Evaluate You

6/17/2015

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Here are six criteria banks look at when deciding to lend to you:

1. Cash Flow - Your business must show positive cash flow over time. 

2. Industry Experience - Lenders want to see you have stood the test of time in your current industry by being in business at least 2 years.

3. Credit Accounts With History - Lenders want to see your track record as a borrower and not only brand new credit accounts.

4. Range of Credit Accounts - Lenders need to see good management of personal and business accounts. 

5. History of Same Type of Loan - You need to prove you have been able to repay loans of the same type as the one you are applying for. 

6. Existing Business Credit 
- Show you are currently able to pay a loan, but not so much debt to make lender believe you wouldn't be able to make payments on an additional loan.

If you have questions about any of these criteria, post your questions below.
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Affiliate Disclosure: On this website we may recommend products or services for which we receive compensation.  However, we only recommend products or services that we've either personally checked out or that come from people we know and trust. When you purchase something from a link, we may receive compensation, but the price to you is the same regardless of whether we are compensated.  Our first priority is to provide information and resources  (affiliate or otherwise) to help you in your business endeavors.  Affiliate compensation helps to offset the costs associated with delivering high quality information to you.
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