While online lenders have the ability to loan amounts ranging from just a few thousand to even a few million dollars, they generally will only do this if the business has at least a couple of years of:
(1 point)
Responses
steady increased profits.
steady increased profits.
progress and history.
progress and history.
good publicity and feedback.
good publicity and feedback.
employee retention.
employee retention.
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The correct answer to this question is "progress and history." Online lenders generally require businesses to have at least a couple of years of progress and history before loaning larger amounts of money. This means that the business must have a track record of growth and success over a period of time.
The answer to the question is: progress and history. Online lenders generally require that a business has at least a couple of years of progress and history before lending larger amounts of money.
To answer this question, we need to understand the requirements of online lenders when loaning large amounts to businesses. Typically, online lenders are more willing to provide substantial loans if the business has a solid track record of success.
The key factors that online lenders consider when evaluating a business's loan application include:
1. Steady increased profits: Online lenders want to see that the business is consistently generating higher profits over time. This indicates that the company is growing and has the potential to pay back the loan.
2. Progress and history: Lenders need evidence of the business's progress and history. This could include financial statements, business plans, and other documents that demonstrate the company's growth and stability.
3. Good publicity and feedback: Positive publicity and feedback can be indicators of a reputable and successful business, which can increase the likelihood of loan approval. Online lenders may consider online reviews, customer testimonials, or media coverage.
4. Employee retention: Employee retention is an important factor as it reflects the stability and management of the business. If there is a high employee turnover rate, it can raise concerns for the lenders about the company's stability.
Therefore, to be eligible for a large loan from online lenders, a business should have a couple of years of:
- Steady increased profits
- Progress and history
- Good publicity and feedback
- Employee retention
By meeting these criteria, businesses can increase their chances of securing a loan from online lenders.