loan introductions

1. Eligibility Requirements

Before applying for a loan, borrowers must meet certain eligibility criteria, such as:
✔ Age and legal residency status.
✔ Minimum income or financial stability.
✔ Business or personal credit history.

2. Loan Amount and Interest Rates

💰 The loan amount depends on the borrower’s financial profile and lender policies.
📈 Interest rates can be fixed (constant rate) or variable (fluctuates over time).

3. Repayment Terms

📅 Repayment terms vary, including monthly, quarterly, or yearly installments.
❌ Late payments may result in penalties or higher interest rates.

4. Loan Approval Process

✔ Fill out an application with accurate details.
✔ Submit required documents (income proof, identification, business plan, etc.).
✔ Await approval and receive funds upon acceptance.

5. Responsibilities of the Borrower

✅ Repay on time to maintain a good credit score.
✅ Use the loan only for the intended purpose.
✅ Keep track of all payments and interest obligations.