Join BCFB and Vancity for this presentation as Puneet Jain discusses the key things that a lender looks for when considering to lend to a business.
- Lenders consider an applicant's credit score, income, and employment history to assess their ability to repay the loan.
- A borrower's debt-to-income ratio is another factor that lenders may look at.
- Collateral may be required for secured loans.
- For business loans, lenders may want to review the borrower's business plan and industry trends.
- The purpose of the loan is also an important factor for lenders.
- Financial statements are often required to assess the borrower's financial health.
- Lenders may review the borrower's cash flow to ensure they have enough cash to make loan payments.
- With a background in finance and law, Puneet has been working at Vancity for 13 years as a Small Business Advisor and Microfinance Program Manager. In this role, he offers coaching, guidance, and financial support to small businesses in their early stages of development as well as those that are expanding
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