Eligibility criteria for obtaining a business loan

To qualify for a business loan, there are certain eligibility criteria that need to be met. One of the primary factors considered is the creditworthiness of the borrower. Lenders typically look at the credit score and credit history of the business, as well as that of the business owner or guarantor if applicable. A good credit score indicates a strong repayment history and increases the likelihood of loan approval. Lenders also evaluate the financial stability and profitability of the business. They assess the cash flow and financial statements to ensure that the business can generate enough revenue to repay the loan.… Continue reading