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5 Reasons Your Bank Loan Application May be Denied

Wed Jan 11, 2017 11:41 am

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An important and viable avenue for businesses to generate capital for their businesses is via bank loan. In Nigeria today, the measures for granting loans have been tightened due to the recession.  It was reported recently that Union Bank's non-performing loans rose to 34.29%. So, it is naturally difficult to get loans from banks if you are not a Dangote or Otedola. This doesn’t banks grant loans at all. You just need to satisfy their requirements. Besides this, there are other reasons why your bank loan application for your business may be denied. You have too many debts Banks will always scrutinise ...