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Question
I need an opinion from the community for a project?
Chester Hunter, president of Jackrabbit Enterprises, applied for a $250,000 loan from Belgrade National Bank. The bank requested financial statements from Jackrabbit Enterprises as a basis for granting the loan. Chester has told his accountant to provide the bank with a balance sheet. Chester has decided to omit the other financial statements because there was a net loss during the past year. Is Chester behaving in a professional manner by ommiting some of the financial statements? What types of information about their businesses would owners be willing to provide bankers? What types of information would owners not be willing to provide? What types of information about a business would bankers want before extending a loan? What common interests are shared by bankers and business owners?
2 months ago - 2 answers
Best Answer
Chosen by Asker
It sounds like you are looking for someone to do your homework for a course you are on, but haven't really paid much attention to. Some of the more obvious: the bank would need full disclosure of audited financial accounts for the past few years, including fixed assets of the business, other collateral, shareholder information and probably personal financial standing of the directors. Financial transparency and security are common interests.
by AsiaAdvice
2 months ago
Asker's Rating: 
Other Answers
Beware of advance fees, Transfer, Tax and Insurance fees. I have applied for series of Loan in different loan companies online and end up loosing my money. I lost $1,600.00 in the hands those internet loan scammers, who claim to be loan lenders. I lost every penny i had till a friend directed me to Macro Loan House, were i applied for a loan of $46,000.00 which was Approved and transfer to me. I will advice you contact the company too for possible help. Company email: macroloans@gmail.com
by Cindy Smith- 2 months ago