Author Question: What do experts consider the key to securing a long-term business loan? ... (Read 59 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?

Atropine, along with scopolamine and hyoscyamine, is found in the Datura stramonium plant, which gives hallucinogenic effects and is also known as locoweed.

Did you know?

Essential fatty acids have been shown to be effective against ulcers, asthma, dental cavities, and skin disorders such as acne.

Did you know?

According to research, pregnant women tend to eat more if carrying a baby boy. Male fetuses may secrete a chemical that stimulates their mothers to step up her energy intake.

Did you know?

There are major differences in the metabolism of morphine and the illegal drug heroin. Morphine mostly produces its CNS effects through m-receptors, and at k- and d-receptors. Heroin has a slight affinity for opiate receptors. Most of its actions are due to metabolism to active metabolites (6-acetylmorphine, morphine, and morphine-6-glucuronide).

Did you know?

To combat osteoporosis, changes in lifestyle and diet are recommended. At-risk patients should include 1,200 to 1,500 mg of calcium daily either via dietary means or with supplements.

For a complete list of videos, visit our video library