Business Loan Procedure

Investigation On pedigree Loan Procedure In action mechanism 2, we have been asked to do investigating business loan procedure in three gamy street vernacular. We have been through some high street banks like HSBC, Barclays, Lloyds TSB, Santander, and Halifax. Among the five popular high street bank we have got three banks which ar helping investor about business loan. They are- 1. HSBC 2. Lloyds TSB 3. Barclays transit Of Business Loan ApplicationIn order to give a business loan every bank follows some specific criteria, which are given below. 1. Deciding on business finance 2. Contacting with bank 3. structure a finance application 4. Applications assessment 5. Business manager makes initial decision 6. Business manager works with reference book team 7. The credit manager role 8. Business manager explains the decision. pigment Features and benefits of Three High Street Banks Barclays 1. Barclays bank offers ? 1,000 to ? 25,000. 2. Loan refund termination is 1- 10 years. . Interest rate is fixed. 4. 6 months refund holiday available. 5. No early repayment fees. HSBC 1. Business loan limit is ? 1,000 to ? 25,000. 2. Loan repayment term is 1to 10 years. 3. Fixed pursuit rate. 4. Funds can be credited on the same day when agreed. 5. Rebate facilities for the early repayment. 6. ? one C loan constitution fee. Lloyds TSB 1. ?1,000 to ? 1,00,000 business loan limit is available. 2. Loan repayment term is 12months to 10 years. 3. Fixed interest rate. 4. 1. 5% loan arrangement fee. . Fund availability is not guaranteed on the same when agreed. In conclusion, the basic process to halt a business loan is almost like for every bank. However in order to prefer a adequate business loan should be considered on maximum limit of the loan, interest rate of the loan and how flexible to repay the loan. After go through all of these criteria we think Barclays is the most suitable bank for our business to get the loan as they have repayment holiday facility, and good universal support.