Loan Origination – A Critical Step in Loan Process
Introduction Planning to take a loan for yourself? The capital required to purchase the entire asset would be high. Purchasing an asset out of your savings is impractical. But you still want to go ahead? The easiest way to raise fund is to apply for a loan. Taking loan could be the right option in most of the cases, as it helps you to meet your financial needs. However, if you’ve already spent time trying to avail a loan in your past, then you must be knowing about the entire processes and time taken for it. For every loan borrowed, it includes a series of processes – from applying for the loan to the final release of funds. One must cross several crucial steps in the process of getting their loan approved. All put together, it is commonly referred to as Loan Origination – a process that involves the thorough verification of the borrower’s credentials. Also, this includes the analysis of risk