Business, Management and Accounting
4 years ago

Collateral security not a guarantee for bank loan approval, study finds.

European journal of contemporary economics and management
SECURITIES: THE USAGE TO A LENDING BANKER
Akinyemi Balogun, Mamidu A. Ishola

Paper Summary

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The key to getting a loan from a bank is not just offering collateral. Banks also look at your character, financial strength, repayment plan, and loan purpose. The ratio of your loan to the security you offer is important too. The most crucial security is your honesty. The bank should also check your financial ratios. In short, the bank cares more about your ability to pay back the loan than the security you provide.