Wednesday, June 17, 2009


I was informed by my friend that he was called by the bank for a loan confirmation. He applied for a loan so that he can have the money that he wanted to fuel his business. He was planning to open a chicken shop in his farm lot. According to the bank, the loan might be approved in 3 days time. There will be some series of loan inquiries and some interviews. These are all standard operating procedures that the bank loan officer has to do before extending a loan to a loan applicant. The 3 days that the bank mention as processing days are enough to establish the credit worthiness of an applicant. My friend is eying that the bank would loan him around 100,000 pesos and by this amount, he can start his own chicken shop.