![]() ![]() It has been stated by finance companies that in the case of a default most co-signers actually pay off the loans that they have co-signed for including the legal and late fees that end up being tacked on. A lender will usually not go after the co-signer until the borrower defaults, but they can lawfully go after the co-signer at any time. The co-signer enters an agreement to be responsible for the repayment of the loan if the borrower defaults. Specify the collateral that you are able and willing to give as security for the loan.If you have a new business, provide the projected balance sheet and income statement. Financial statements: the income statements and balance sheets for the past three years. ![]() Submit your own personal financial statements as well as those of the principal business owners.Describe what the business will do to satisfy the needs of its customers. Name the competition and explain how you plan to compete in the market. State clearly the products of your company as well as its markets.Prepare a short statement that is focused on each principal in your business give details about education, background, accomplishments and skills.Structure of ownership: describe the legal structure of the company.Describe the type of business you have, its age, current business assets, and number of employees.Business name and address, names of officers and their social security numbers.Amount needed: the specific amount needed to reach your goal.Reason for the loan: the exact purpose of the loan and why it is necessary.The following main points should be contained in a good loan proposal: General Information ![]()
0 Comments
Leave a Reply. |
Details
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |