Credit Application Process. Ch. 18-3 PoB 2011. Credit Application Process. To obtain a loan or credit card, you must prove that you are a good credit risk Not everyone who wants credit will receive it Lenders need certain information in order to make a decision about granting credit
Ch. 18-3 PoB 2011
Information provided must be verified to assure accuracy
May list personal references if you do not have sufficient business credit references
What are the three C’s of credit?
What is the main purpose of a credit bureau?
What are the main items reported on a statement of accounts?