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For any loan, the ability and intention to repay are the basic qualifying guidelines.
Cassie Wilkerson:
Intention to pay is basic: but to fully secure any particular loan one must prove ability to do so - does the loans intent to generate more revenue say for a business or decrease costs therefore placing more money in the loan seekers pocket say investing in energy saving improvements to reduce energy cost.
Guideline for loans are basic put these are the standing areas they seek:
Employment
- History of previous debt payment
- Purpose or intent of loan (generates sustaining return to repay)
- Future risk to secure access to revenues (education or other factors if employment changes)
- Capital - can the loan be backed up via secured collateral a house or car
- Co-sign does a person have secured financial supporter into their loan
- Education (does the loan seeker have a solid resources to continuously guarantee employment via specialized knowledge)
- Previous management of cash history- no bounced checks or insufficient funds registered in the persons history.
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