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

[Ltherman]

I completely agree with this, showing a detailed plan and dotting the i and crossing the ts is essential in getting a loan. though in my own clime its not quite easy aside the high interest rate and tasking demands.

 

[Tiwa]

Securing loans with banks requires you to have run your account well for a minimum of six months. You must have a good proposal and your cash inflow forecast forecast of atleast five years. Not blacklisted on the dud check issuers list. Also, what you are seeking the loan for(project) must be economically feasible.

 

[LaylaG]

there are a lot of ways you can get a long-term loan from bank or any other loan giving organisation but before you are qualified to do so you must have something tangible to keep in place of ,as they do not give people a loan without having anything tangible to offer, and another thing you must be willing to let go is that if you're applying for a long-term loan you must offer a tangible thing you will use the loan for if not there is a higher possibility that the loan may not be given to you.

 

[Goodday]

Your ability to be able to qualify for long term loan depends on how the financial institution in particular value you. And how that institution value you will also depend on how you transact business, how much you have saved from the past and also the job you have as a source of livehood.

 

[Nurudeen]

This is a comprehensive guide on how to get loan from any organization. The most important thing for any business owner who wants to get loan from any organization is to have a business plan ready and also have his or her business registered with the government. If this two thing are in place the person will be sure of getting the loan.

 

[Kamon c4]

Sourcing for long term loans in bank or organization requires longer process. Firstly, identify the purpose of loan and create a business plan. The next process is to write a letter heading with application for loan. Then you need to find two guarantors who has accounts with bank. Also, you need to provide your source of income and collaterals.

 

[Peppul]

Long terms loans are not easy especially if you applying as an individual, there is a limit and stage they can borrow you to, but if you are a business owner then the list you mentioned up there can work but the most effective one is to build up credit score most lenders love that, as an organization applying for loan if you are consistent in returning back your loan before the dead line then you will always be granted more and that will encourage getting a long term loan.

 

[Samuel77]

According to my own point of view, if you want to get a long term loan from the bank, you will have to bring a collateral that Worth more that the money you want from the bank and you will have to agree to the terms and conditions, which is, the interest rate will be a little bit higher that the normal loans

 

[Maheen]

I am not agreeing with your idea of long term loan. Because whenever you apply for loan you have to take it with a big markup of interest and with your original loan money the interst will become so big amount....it's really very difficult to pay back and sometimes you have to sell your thing to pay back the loan

 

[Seyesystem]

I can only recommend long term loan for the purpose of house project in order for yearly payment of rent to come to an end. A form of loan that is paid off over an extended period of time greater than 3 years is termed as a long-term loan. This time period can be anywhere between 3-30 years. Car loans, home loans and certain personal loans are examples of long-term loans. Long term loans can be availed to meet any business need like buying of machinery or any personal need like owning a house.

 

[Ralphjoe]

What a lovely tips on how to request for loans from a bank or big financial institutions. These tips are highly important but you will permit me to add that you must have a worthwhile collateral before you can obtain a loan from any financial institution.

 

[Ebuka Stephen]

Yeah thanks for the tips, but I don't think its an ideal thing to collect long term loan from the bank cause to do so you will need a good collateral and the percentage will be high when paying back your money. when taking loan it is quite risky you must be sure that your plan is going work.

 

[Sariana23]

The main thing to obtain a bank loan is to have an active account with striking movements, and your advice that has a lot of value. Among them I must highlight the guarantee, since it is what can convince the bank to execute said request, and the most important thing will be the fulfillment of the contract so as not to lose the guarantee.

 

[Alexandoy]

In our country a bank loan will require a collateral. Usually the long term loan would be less than 50% of the value of the collateral. For example your collateral is your home that has a value of 4 million then you can only be granted a loan for less than 2 million that will depend on the approval of the loan officer. Of course, the purpose of the loan is also important. For a business you have to submit the business documents including the tax returns for the last 3 years. There is too much work involved.

 

[Adebayonle7]

Getting a loan here in Nigeria sometimes comes with having connections here and there. You have to get or know the right contacts who would refer you first. After that, you need such a collateral that's even double or atleast more than what you're borrowing. After getting the loan after weeks or months of strainous efforts getting different documents and guarantors, you'll then face daily heartaches of the percentage of their interest. Only this (the interest) can make one give up completely!

 

[GIFTMICHAEL]

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.

This is a complete tips or list so far how you can get loan. The one I like so much is to make sure that the amount of loan you are requesting correspond with the exact money you are applying for.
This is good

 

[adazeez1995]

In addition to what u have just said, a long term loan will mean the money in question is a very large sun. So, apart from having a good business plan and collateral,some banks are usually more comfortable with those that have operating history. They expect you to have been in the business over a period of time or at least 2 years. With that, u are in a good position to give them risk- rewarding analysis of the business. They will also want to know the status of your cash flow through your business financial statement, you really cant blame them. They are only trying to protect their money.

 

[Seun4luv]

Bank term loan usually carry fixed maturities and interest rates as well as a monthly or quarterly repayment schedule. The loan usually has a maturity of 3-10 years although loan bank can stretch out as far as 20 years depending on its purpose.

 

[GIFTMICHAEL]

The main thing to obtain a bank loan is to have an active account with striking movements, and your advice that has a lot of value. Among them I must highlight the guarantee, since it is what can convince the bank to execute said request, and the most important thing will be the fulfillment of the contract so as not to lose the guarantee.

Upon granting loan to individual some banks if not all banks request for collateral.
The collateral must be in form property convertible by money in case there will be any bridge of contract.

 

[Hassan14]

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.

I think it is very foolish to take a long term loan from a bank because it is very difficult to repay and I am not in favor of it. I am always in favor of planning that you plan ahead. That's the decent thing to do, and it should end there.