0 sats \ 2 replies \ @Bell_curve 23 Jul \ parent \ on: Borrow $60,000 and Pay Back $255,931 charts_and_numbers
The borrower is asking and trying to persuade the lender to lend him money
The lender has to ascertain the credit risk of a borrower: high, low, medium, etc
Most lenders have certain criteria before they even consider a loan application
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21 sats \ 1 reply \ @supratic OP 23 Jul
it's basically on us to make the due diligence and check before going out to the first entity to ask.
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0 sats \ 0 replies \ @Bell_curve 23 Jul
A borrower can seek pre-approval and the lender will know right away if the borrower meets their minimum requirements
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