How to get a long term loan from any organisation or bank

[WhiteHouse]

I have some couple of tips and tricks which can assist you When you are about to advance for a loan in a bank or a Financial Association.

1. Compose a letter or a proposition to the association or bank about an advance. Take it there yourself.
2. Have a Composed Plan. Ensure it gives each insight regarding your business or what you are intending to utilize the cash for.
3. Have a guarantee. In the event that the advance you need to get is worth millions.
4. Try not to be excessively Demanding.
5. Make sure the cash you need to get is truly worth the proposition you brought.
6. Try to meet with the manage about the advance.

 

[Pirate]

I don't think it's actually a good idea to take a long term loan from a bank is a great idea, but to do so you'll to have to have a reasonable deal of collateral.
And i totally agree with having a plan, in order to make sure thibgs dont fall apart.

 

[Nma]

To get a long term loan from a bank you need collateral and that makes it impossible for small based businesses to seek for loan....They also have huge interest rates... I don't advice any one to take loan from a bank

 

[Josemendez]

Nice tips . There are two main things that must be present before one is granted with a loan . A collateral which will insure the loan and then a feasibility plan that will convince the organization that they are making the right choice by giving out the loan

 

[Presido]

These tips are very important for long term loans like you have said, but I personally don't encourage taking loans either long term or short term, it's is very risky, but this tips can really help

 

[giddy]

Long-term bank loans are always supported by a company's collateral, usually in the form of the company's assets. The loan contracts usually contain restrictive covenantsdetailing what the company can and cannot do financially during the term of the loan.
For example, the bank may specify that the company cannot take on more debt during the life of the long-term loan. Long-term loans are usually repaid by the company's cash flow over the life of the loan or by a certain percentage of profits that are set aside for this purpose.

 

[Adeyoola7]

1 Have a proper business plan
In order to secure a loan, many banks need you to have a strong financial plan which brings out what your business entails. It forms an introduction about who you are and what your business is all about. A business plan should be able to state the business' goals, mission and how it will be run in order to achieve all the objectives stated. Remember a great business plan means that the business is likely to succeed according to the mind of the lender.
2 State how you want to spend your finances
Banks have a tendency to assess how the loan applicant wants to spend the funds borrowed. If you want to purchase equipment for example, you need to apply for an equipment loan.

 

[Ridorz]

You made a point out of your statement. But I think this can only help big scale business or organization and also I do not suppoted of getting a long time loan from bank, it not encouragable. Though business is a risky thing.

 

[Hasan Raza]

Long term loan could be a handsome amount.
But you must have any guarantee which is equal to that payment of loan. But it is a risky way and if you fail to boost up your business then it will be difficult for you to return that huge amount

 

[Aumeabbas]

I have some couple of tips and tricks which can assist you When you are about to advance for a loan in a bank or a Financial Association.

1. Compose a letter or a proposition to the association or bank about an advance. Take it there yourself.
2. Have a Composed Plan. Ensure it gives each insight regarding your business or what you are intending to utilize the cash for.
3. Have a guarantee. In the event that the advance you need to get is worth millions.
4. Try not to be excessively Demanding.
5. Make sure the cash you need to get is truly worth the proposition you brought.
6. Try to meet with the manage about the advance.

Great tips for getting loan. But personally i don't like to take loan because every bank take enough markup, which is not suitable to take loan with much interest. We should do saving for our future.

 

[kaychiz]

Besides having collateral and having a business plan as you have mentioned, obtaining a long-term loan from a bank also requires that you must have been in business for a minimum of 12 months. you will also be required to present your financial documents and records of your business transactions for that period.

 

[Ojonuyo]

I agree with you on this. Composure letter matters alot, when requesting for a loan. Most especially when you are asking for bigger amount of money from large co-operation. You cannot have a poor business plan proposal and expect to win their heart. Your business proposal must be well composed before presenting them to the company.

Another thing is, you must have a guarantor who will sign for you when the documents is approved. This is very important. Should in case your business turn our bad, and you are unable to pay back. Your guarantor would be held responsible when you are no where to be found. That is why you must have a great plan of paying the money back.

 

[Erik4150]

These tips are very helpful but unfortunately it doesn't help everyone especially small business owners who can't provide collateral.
Most banks are very strict when it comes to loans. Your loan application could end up getting rejected.

 

[Tariq Shehzad]

I have some couple of tips and tricks which can assist you When you are about to advance for a loan in a bank or a Financial Association.

1. Compose a letter or a proposition to the association or bank about an advance. Take it there yourself.
2. Have a Composed Plan. Ensure it gives each insight regarding your business or what you are intending to utilize the cash for.
3. Have a guarantee. In the event that the advance you need to get is worth millions.
4. Try not to be excessively Demanding.
5. Make sure the cash you need to get is truly worth the proposition you brought.
6. Try to meet with the manage about the advance.

Thanks for sharing with us tips about for loan from bank or Financial Association.
But I think, the bank and financial association have their own terms and conditions, while giving loan. They having their own letters and agreements, that we has to follow them.

 

[Ibrahim1]

As for bank case forget about it because they won't give you with the kind of things they will be asking you and am very sure you won't able to get it but as for the other cooperatives the time they going to give you will make you never rest because it's a short period of time

 

[Abigael]

Those are very good tips on how to get a loan from a bank or any organization. I have never taken a loan from the bank and I always hear that first timers hardly get to secure the loans. But with these tips, one can get the loan and build a reputation which will ensure long term acquisition of the loans.

 

[Eyiteepraise]

Long term loans aren't easy to get but on my part the only way to get long terms loans from loan organisations is by requesting and collecting loans from minimal amounts without wasting time in repaying that way you are opening the opportunity to collect long term loans since you don't have an outstanding.

 

[btaliat]

If getting a short loan is your target, then that's easy to secure. Securing a long term loan requires more than what you listed. Banks only borrow the rich business men. Whether they are scared of any unforseen circumstances.

 

[chalcedony8]

getting a long term loan is not something easy, it depends on a lot of things, it depends on how successful you are in any business you are doing, it also depends on your capabilities to pay back the loan, within the expected time range, the asset you are ready to use as collateral too is important and most importantly how long you have been banking with them.

 

[Sincerem]

That's a good suggestion, I will look into it in the future. Any need for taking a loan for business start up arise. But naturally, I don't like loans, I prefer to save up and build my financial portfolio gradually till it reaches the level I want, and still grow higher too.