What Do You Need To Apply For a Loan?
Have you ever wondered what uta-need in order to apply for a biz loan? Hii article itakuprepare so that you know what you will be expected to have.
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The following are some of the most common expectations before upewe loan ya biz but please note that requirements huwa haziko same kwa kila provider wa loans. Huwa, they vary from one to the other.
😎You need to already have a biz that has been in operation for at least 1 to 6 months, depending on the loan provider.
😎You’ll need to demonstrate through records za sales ama sometimes through your statement kama statement ya mpesa your regular transactions through inflow ama sales to give a better picture ya financial health ya biz yako.
😎Sometimes, you will be required to have a permanent business address na pia You will need to have proof that biz ni yako.
Other important things that could make you not get a loan ni as follows;
➡️Ensure that you don’t have another pending loan or unpaid loan. Lenders wengine wakirealize you have an unpaid debt, wanakuona kama a risky borrower na they might not want to loan you. Some can have a pending loan na lender akiangalia records anaona you might not be able to service two loans at the same time therefore ukose kupewa loan.
➡️Another very important thing to note, Meshers wengi are getting turned down by lenders, hawapewi loans because of one reason, GAMBLING. Wakiangalia mpesa statement yako they see, gambling expenses ama betting and as soon as they do, sahau hiyo loan. If you intend to get a biz loan in the future, please keep your mpesa statement clean of betting expenses ama payments.
✨✨✨ Remember, being prepared na the correct info at hand itakusave a lot of back and forth when it is time to apply for your Biz Loan.