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Business Loan Applications. What information will a bank require from a business loan application? Amount Required. Ability to repay Business history.

Published byEthel Magdalen Gilbert Modified over 9 years ago

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Presentation on theme: "Business Loan Applications. What information will a bank require from a business loan application? Amount Required. Ability to repay Business history."— Presentation transcript:

1 Business Loan Applications

2 What information will a bank require from a business loan application? Amount Required. Ability to repay Business history – when it started, products. Duration & purpose of loan (must match!) Collateral – security available if unable to repay the loan. Market Research

3 Recording the receipt of a loan in the books of first entry Debit the Bank A/C Credit the Loan A/C

4 Record receipt of €50,000 loan on 1/1/08 in the books of first entry BANKA/C DateDetailsFTotalDateDetailsFTotal 1/1/08loanGL50,000 LOANA/C DateDetailsFTotalDateDetailsFTotal 1/1/08BANKCB50,000

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