Social Sciences, asked by akansha3494, 1 year ago

who can easily be able to get the loan from a formal courses? and how? 3marks

Answers

Answered by varun2003k

rich or middle class people can easily take loans from formal sources such as banks because they have the presence of collateral and documentation which are required by the banks as a security before providing loans to anyone . even rich people can mortgage anything and after repaying of loan they may have it ......

happy to help .

Ankitsingh1111111111: What is going on

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varun2003k: thnx akansha

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Answered by Ankitsingh1111111111

taking loan from formal sector requires some terms of credit like, documentation, collateral
Loan from formal sources can able to take only rich person, not poor one because they have collateral and even they are not too much educated too understand terms of credit

Ankitsingh1111111111: hii

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