As any other financial operation process of reception of the credit has the features and sequence of actions. Availability of the most different conditions and forms of reception of credits demands accurate management of consistent policy. For convenience credit reception can be divided into stages.
The first stage consists in requirement determination of credit and terms of loan (a kind of crediting, the sum, term, optimum interest rate) and the justification of their application. Also at this stage it is necessary to be specified previously with a subject of mortgage provision, making a start from own estimations about its market value.
At the second stage the borrower is determined with bank company and carries out preliminary consultations of the potential creditor. It is necessary to notice that in most cases the mandatory condition of issue of the credit bank structure is availability of mortgage provision with the help of which the bank in due time and in full can return the means which have been given out to the insolvent borrower. To a pledge subject, the bank exposes requirements, their basis:
the market value of object of pledge should be not less, than a cumulative credit amount, percent on it for a year and every possible costs (penalties, a penalty fee, commission fee);
the legal documentation should be arranged so that time necessary for its realization in case of non-payment of the credit, hasn’t exceeded 150 days.
Irrespective of the chosen bank company, it is necessary to be ready to that the provision total sum always exceeds the sum of the received credit. Besides insufficient volume of mortgage provision is the most typical and, perhaps, the basic problem which it is necessary to face to borrowers in the course of credit reception.
At the third stage, after a choice of bank-partner and the coordination of approximate terms of credit, the borrower gives it the required documentation. The packet of required documents completely depends on parameters of the credit and bank conditions. Duration of the given stage is influenced very much by availability or absence of all necessary documents.
Credit specialists of bank structures often enough mark low quality of given documents (business plans, reports), therefore serious and responsible preparation of a packet of documents will essentially simplify procedure of reception of the credit in bank.
At the fourth stage, after reception of the required documentation the bank starts procedure of an estimation of the borrower. Standardly banks conduct all-round examination of the credit request and the borrower. Estimate three main groups of factors: financial, legal, and not financial. Analyzing legal aspects, the legal service checks all documentation, concerning provisions, constituent documents and powers of persons which sign contracts with bank, identification of physical persons becomes.
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