Get premium membership and access revision papers with marking schemes, video lessons and live classes.
  OR
Processing. Please wait.

 Form 4 business studies money and banking questions and answers

A business man wishes to obtain a loan from a commercial bank. Highlight five conditions that he should satisfy before the bank can grant him the loan.

 (3m 19s)
1315 Views     SHARE

Download as pdf file

Answer Text:
-Collateral security valued by appointed valuer
-Bank statements for the last six months busy account to determine credit worthiness
-Guarantee to be followed in case of default
-Intended purpose of the loan
-Agreement on the repayment
-Appraisal fee/ charge to determine credit worthiness by the bank.


|