Author Question: What do experts consider the key to securing a long-term business loan? ... (Read 58 times)

daltonest1984

  • Hero Member
  • *****
  • Posts: 536
What do experts consider the key to securing a long-term business loan? Explain.

Question 2

The Human Side of Enterprise was a management book written by Frederick W. Taylor.
 
 Indicate whether the statement is true or false



lindahyatt42

  • Sr. Member
  • ****
  • Posts: 322
Answer to Question 1

Preparation is the key when applying for a long-term business loan. Preparation should begin long before applying for the loan by creating relationships with potential lenders. Other factors that increase a business owner's chances of obtaining a loan include maintaining adequate balances in the firm's bank accounts, checking his or her credit rating with a credit bureau, taking the time to answer all questions on a loan application, stating how the money will be used and how the money will be repaid. Most lenders will insist that you supply audited financial statements. The owner should also compile of references. Finally, he or she should be prepared to discuss the loan request with a loan officer.

Answer to Question 2

False



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
 

Did you know?

It is important to read food labels and choose foods with low cholesterol and saturated trans fat. You should limit saturated fat to no higher than 6% of daily calories.

Did you know?

Oxytocin is recommended only for pregnancies that have a medical reason for inducing labor (such as eclampsia) and is not recommended for elective procedures or for making the birthing process more convenient.

Did you know?

Cucumber slices relieve headaches by tightening blood vessels, reducing blood flow to the area, and relieving pressure.

Did you know?

More than 20 million Americans cite use of marijuana within the past 30 days, according to the National Survey on Drug Use and Health (NSDUH). More than 8 million admit to using it almost every day.

Did you know?

Urine turns bright yellow if larger than normal amounts of certain substances are consumed; one of these substances is asparagus.

For a complete list of videos, visit our video library