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A P and L Report Sample is one of the requirements that you must have in your mind while planning to choose a personal loan. A borrower needs to find out the information on the lender so that he can make an informed decision. The lender may ask for some details which you may not have known about before.
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A borrower should not feel embarrassed in case he is unfamiliar with the terms and conditions of the loan. This is very important to know what you are dealing with. This is especially true if you have already applied for a loan on which you will need to have a copy of the P and L Report Sample.
As a borrower, you must be aware of the requirements of a Loan Officer. This is because they will conduct the pre-application on you so that they can compare your documents with the requirements of the lender.
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The lender will offer a Loan Officer to interview you to find out the facts on you. He will give a basic questionnaire to you to check the financial stability of the borrower. If the borrower is very well acquainted with his finances then he may qualify for the loan.
You should request a Loan Officer for a basic P and L Report Sample. This is because these documents are used by all lenders to determine whether a person is eligible for a loan. However, they can not offer these documents as a sample because it contains their security interest on the borrower.
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Most lenders do not have the same criteria to determine whether a person is suitable for a loan. They use the same P and L Report Sample as a basis for their decision. This may lead to a mismatch between the requirements of a lender and the borrower. Hence, it is very important to have a copy of the P and Report Sample for getting a better picture of how much money you can get.
If you are still confused about the requirements of a Loan Officer, just ask the lender and he will explain it to you. Even then, you must be well informed about it. The main purpose of getting a P and L Report Sample is to provide the lender with useful information. It should be as clear as possible.
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