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Home > List of questions to ask the credit dept of a commercial bank regarding the lending process

List of questions to ask the credit dept of a commercial bank regarding the lending process

What is the overall lending process at your bank?

How long does the entire lending process typically take?

What are the key stages involved in the lending process?

What are the eligibility requirements for borrowers?

Are there specific criteria used to assess creditworthiness?

How is the borrower's credit history evaluated?

What documents are required for a loan application?

Are there specific formats or templates for the required documents?

How does the bank handle missing or incomplete documentation?

What types of loans does the bank offer for commercial purposes?

What are the typical loan amounts and terms available?

Are there options for fixed or variable interest rates?

What fees are associated with the loan application process?

Are there any prepayment penalties or hidden costs?

How does the bank determine the interest rate for a loan?

What is the process for loan approval?

Who is involved in the decision-making process?

How does the bank communicate the approval or denial of a loan?

What happens after a loan is approved?

How long does it take for the funds to be disbursed?

Are there any conditions that must be met before disbursement?

What are the repayment terms and schedules for loans?

Can borrowers modify the repayment terms if needed?

What options are available for late payments or defaults?

How can borrowers reach the credit department for inquiries?

What is the best way to track the status of a loan application?

Are there dedicated relationship managers for commercial borrowers?

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