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Will I Get Approved for Bank Financing?

Will I Get Approved for Bank Financing?

Will I Get Approved for Bank Financing? The Psychology Behind How Bank Thinks.

Know how the Bank thinks, so that you’ll be on the good side of the banks.

Banks are in the business of lending money. Therefore, banks wants to have you as a customer. Having this out of the way will give you some peace of mind.

Bank Uses these criteria to find out if you are loan worthy:

5 C’s of Credit:

  1. Character – quality of an individual to pay the debt.
  2. Capacity to Pay – the ability of a person to pay.
  3. Conditions – economic viability of an individual over time.
  4. Capital – the money you have invested personally in the property.
  5. Collateral – the property being mortgaged.


EMPLOYEE – tenure of at least one year ; or if transferee from another company, must be a regular employee to the new company.

SELF-EMPLOYED/SMALL BUSINESS OWNER – in business of at least 3 yrs.

Banks Measure Capacity to Pay Through the Following Criteria:

  • Verifiable
  • Sustainable
  • Consistent
  • Documented

The above criteria is the benchmark banks uses to analyze a person’s capacity to pay.

The Following Cannot Be Approved of A Loan With The Bank:

  1. Government officials
  2. Trial lawyers
  3. OFW’s Deployed in highly restricted countries


7 Highly Restricted Countries (Automatic Disapproval)

  1. Sudan
  2. North Korea
  3. Burma
  4. Syria
  5. Afghanistan
  6. Iran
  7. Cuba

Reason: With these countries, you cannot send money out of the country.


Johnny Chua

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