Assume that you are starting a business and want to borrow money from a bank. Do you feel it is likely that a bank would lend money for a start-up business? What about the purchase of an existing business? Explain.
A bank will only lend money to a start up business if that business can provide
- Predictable amount going to make
- Business Plan
- How to pay bank back
If the business plan is not to the bank liking and find that business will not sell then bank will not lend money.
For existing I believe it is the same but more like history, income, and more.
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