Olanya Jacob Ali
Mar 23
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Mar 23
1. Creditworthiness of the borrower: This includes the borrower's credit history, income, employment status, and overall financial stability.
2. Purpose of the credit: Lenders should consider the purpose for which the borrower is seeking credit, as this can impact their ability to repay the loan.
3. Loan amount and terms: Lenders should carefully evaluate the amount of credit being requested and the terms of the loan, including interest rates, repayment schedule, and any fees associated with the loan.
4. Collateral: If the loan is secured by collateral, lenders should assess the value and quality of the collateral to determine the level of risk involved in extending credit.
5. Industry and economic conditions: Lenders should consider the overall economic conditions and industry trends that may impact the borrower's ability to repay the loan.
6. Regulatory requirements: Lenders must comply with regulatory requirements when extending credit, including ensuring that the borrower meets certain eligibility criteria and that the terms of the loan are fair and transparent.
7. Relationship with the borrower: Lenders may also consider the borrower's relationship with the institution, including their history of timely payments and overall financial behavior.
2. Purpose of the credit: Lenders should consider the purpose for which the borrower is seeking credit, as this can impact their ability to repay the loan.
3. Loan amount and terms: Lenders should carefully evaluate the amount of credit being requested and the terms of the loan, including interest rates, repayment schedule, and any fees associated with the loan.
4. Collateral: If the loan is secured by collateral, lenders should assess the value and quality of the collateral to determine the level of risk involved in extending credit.
5. Industry and economic conditions: Lenders should consider the overall economic conditions and industry trends that may impact the borrower's ability to repay the loan.
6. Regulatory requirements: Lenders must comply with regulatory requirements when extending credit, including ensuring that the borrower meets certain eligibility criteria and that the terms of the loan are fair and transparent.
7. Relationship with the borrower: Lenders may also consider the borrower's relationship with the institution, including their history of timely payments and overall financial behavior.
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