Checklist of What Banks Want to Know from You.doc

Your bank will need to know the following when you want a loan:

  • How much money do you want to borrow?

  • What is the purpose for the money - that is, how will it be used?

  • How will the loan be repaid?

  • What is the source of the funds that will generate the cash for repayment?

  • Do you have a reserve plan in case the funding source you have in mind does not materialise?

  • What security can you offer for the loan?

  • Are you able to offer a personal guarantee for the loan?

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