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

[Kaffyfolla]

When your business is looking to expand or make a large investment, a long-term business loan is the way to go. Long-term business loans are available from banks and online lenders, with repayment terms from three to 10 years — and in some cases, as long as 25 years

 

[Heatman]

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

Personally I believe that the only thing that you need to get a long-term loan from any bank of financial institution is incredible collateral that you can present to cover for the loan.

 

[Kvngsammy]

Asides the fact that you need to be prepared and have your statements right as well; you also need to be sure that your collateral is equal to if not more than the loan you're applying for.

 

[jay]

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

A lot of people think that it is easy for you to get a financial or a bank loan without having a good collateral to submit for the bank to hold on to in case you are not able to pay back the loan.

 

[Grandeur]

These are just basic tips for requirements of getting a better loan but another issue, banks consider your statement and mandate so one who wants to get the loan to described what I've assumed too.

 

[kayode10]

Obtaining a long-term loan from financial institution over here is very difficult as the usually request for collateral that way far more than the loan you want to obtain. The next option is to when a business grant from the government and only few people are achieving that.

 

[Heatman]

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

As far as I'm concerned it is very busy for you to get loans from any banking institution as long as you have a credible collateral to present for them to offer you the loan without any stress.

 

[Shigobad20201]

A lot of people think that it is easy for you to get a financial or a bank loan without having a good collateral to submit for the bank to hold on to in case you are not able to pay back the loan.

In order to get a long term loan from banks or other financial organisations , you need something tangible to stand as guarantee like house , complex , land and other properties.

 

[ganibade]

You can get a long time loan from an organisation or bank, provided you are part of the member or you belong to the bank customer. This can be achieved when you have a good reputation in the banking system as a customer or any of the organization that recognise you as a good patriotic in that society.

 

[kayode10]

You must be ready to provide a collateral that will be far more than the loan you want to obtain before you can get one from the financial institution. You must also be ready to sacrifice a part of the loan to do is you're going to help me to secure it as a form of bribe.

 

[jay]

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

I've actually seen a lot of people struggle with being able to pay back a bank loan that day we are giving because your business didn't turn out to you with the money that they needed to pay back with and they lost their collateral.

 

[Shigobad20201]

You must be ready to provide a collateral that will be far more than the loan you want to obtain before you can get one from the financial institution. You must also be ready to sacrifice a part of the loan to do is you're going to help me to secure it as a form of bribe.

All what the bank need is the evidence that you are going to pay what you borrowed back and thats why they need a collateral before they can borrow you anything.

 

[Heatman]

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.

There is nothing safe about getting a financial loan from the bank especially when you are going to invest alone in something that you don't have control over.

 

[kayode10]

All what the bank need is the evidence that you are going to pay what you borrowed back and thats why they need a collateral before they can borrow you anything.

This is the reason why majority of the people are unable to obtain them from the financial institution like bank. I think we need more of investment bank where entrepreneur will be able to have easy access to loans in the country.

 

[jay]

All what the bank need is the evidence that you are going to pay what you borrowed back and thats why they need a collateral before they can borrow you anything.

Most of the times I don't even care if you are going to be able to pay back the loan as long as they have access to the collateral that you have deposited with them which is evaluated close to the loan you took.

 

[Skysaint]

I believe that there are very many processes to go about this and it mostly depends on the bank we are referring to and another thing to note here is that it's better to take loans from banks that other financial institutions in the aspect of the interest rate involved in it.

 

[Shigobad20201]

Most of the times I don't even care if you are going to be able to pay back the loan as long as they have access to the collateral that you have deposited with them which is evaluated close to the loan you took.

You are quite right , banks normally like properties and if you have a good property to give as a collateral, they won't care if you don't pay on time becayse they will be targeting your property in the process.

 

[Heatman]

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

If you actually have the means to get a decent collateral for the bank to hold onto before giving you the loan I believe that you can actually be given any amount of loan that you requested for.

 

[jay]

You are quite right , banks normally like properties and if you have a good property to give as a collateral, they won't care if you don't pay on time becayse they will be targeting your property in the process.

Banks actually room of business principles and it is not something wise for them to just give anyone loan simply because they requested for it, so they must provide collateral before the money can be provided for them.

 

[Shigobad20201]

Banks actually room of business principles and it is not something wise for them to just give anyone loan simply because they requested for it, so they must provide collateral before the money can be provided for them.

I understand that there are some laid down principles provided by the bank for giving out loans , all I am saying is that you can't get a loan without providing a collateral.