what makes you bankable

[profesori]

can anyone tell me what banks look at when they consider a issuing a loan, in other words, what makes you bankable?

Thanks

[trillianjedi]

Not necessarily in this order:-

- income
- length of time you've had your job
- home-owner or not
- previous credit history (defaults/good transaction history)
- current credit history (if you have credit cards etc)

The above is calcuated into a "credit score" which is weighted in various ways depending on the risk that the finance company or bank wants to take.

TJ

[webwoman]

Don't forget - outstanding debts

[Jenstar]

Some will also look at how long you have been banking at that particular bank, and will sometimes make it easier if you have done all your banking at that particular branch for a number of years. This is especially true in smaller towns.

Is it for a personal loan or a business loan? Both have different criteria that banks look at. And business loans can be harder to get for some people (with many more hoops to jump through).