Business Loan Procedure

Investigation On Business Loan Procedure In activity 2, we engage been asked to do investigating line of merchandise bring procedure in three high street bank. We have been through some high street banks same(p) HSBC, Barclays, Lloyds TSB, Santander, and Halifax. Among the five popular high street bank we have got three banks which are helping investor about business loan. They are- 1. HSBC 2. Lloyds TSB 3. Barclays Process Of Business Loan application programIn 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. Building a finance application 4. Applications assessment 5. Business conductor makes initial decision 6. Business manager works with credit team 7. The credit manager role 8. Business manager explains the decision. Key Features and benefits of Three High Street Banks Barclays 1. Barclays bank offers ? 1,000 to ? 25,000. 2. Loan refund term is 1- 10 years. . Interest rate is fixed. 4. 6 months come backment pass 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 interest rate. 4. Funds can be credited on the same day when agreed. 5. Rebate facilities for the early repayment. 6. ?100 loan arrangement 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 handiness is not guaranteed on the same when agreed. In conclusion, the basic process to get a business loan is almost similar for every bank. However in order to prefer a suitable 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 public sup port.