Before a bank loan provider lend you money, they need to track down your lend record. There’re five factors are their references.
First, Capital, bank loan provider need to know how much money do you need? If it is a clear understanding of the amount of funds needed and where it will be spent.
Second, Character, bank loan provider need to check your credit record to judge if you’re a good borrower.
Third, Conditions, There are some terms of the loan, and these terms should be structured for they can be paid back without any restricting cash flow.
Four, Capacity, You need to let bank loan provider know that you have industry experience.
Five, Collateral, In most of cases, you are supposed to be able to provide bank loan provider at least 30 percent of your captial need in cash or some other assets.