Question

What are the reasons why the banks might not be willing to lend to certain borrowers

Answer 1

Many times the bank is not ready to grant money to several borrowers because;

1) The borrower may not be capable to provide a declaration of their incomes.

2) The borrower may be having an account of non - payment of loans or bounce in their monthly installment.

3) The borrower may not be able to display certificates of work with any company or no information about their business.

4) Due to poverty bank may not trust the borrower for repayment of loans.

Answer 2

The banks are sometimes not willing to lend to certain borrowers because of the following reasons:

1. Some persons are not able to produce certificate of their earning.

2. There are other people who are not able to produce documents of their employment.

3. There are some people who have a history of non repayment of loans.

4. Some person have nothing to give to bank has collateral.

5. There are few other who fail to produce two persons who can stand has surety incase he is unable to repay the loan .