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Need funds to startup or expand your business? Follow these steps:
A lender looks at a loan request in three sections known as the "three C's". They are:
Credit. Did you pay previous lenders back as contracted?
Capacity: Can you afford to pay back this loan?
Collateral: If you don't pay back the loan from what asset can the lender recover their principal?
Step one is:
1. Identify your strength and weaknesses in the "3 C's". Do this as would a lender - with a very critical eye. Identify your loan to value ratio and your debt service coverage ratio. If you have reason to more ...
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