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Business Loan Applications

Business Loan Applications. What information will a bank require from a business loan application?. Amount Required. Ability to repay Business history – when it started, products. Duration & purpose of loan (must match!) Collateral – security available if unable to repay the loan.

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Business Loan Applications

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  1. Business Loan Applications

  2. What information will a bank require from a business loan application? • Amount Required. • Ability to repay • Business history – when it started, products. • Duration & purpose of loan (must match!) • Collateral – security available if unable to repay the loan. • Market Research

  3. Recording the receipt of a loan in the books of first entry • Debit the Bank A/C • Credit the Loan A/C

  4. Record receipt of €50,000 loan on 1/1/08 in the books of first entry

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