It is the duty and responsibility of any Stay Home Profits banker to ascertain the eligibility of a customer during the course of taking a decision to grant him a loan. Of course, the loan may be for a small amount or for heavy amount involving millions of dollars. However, the criteria for selection of a borrower for the purpose of lending are found to be uniform.In case of any failure on the part of the customer in repaying his debts to the banker, the credit manager who was instrumental in taking a decision to sanction the loan is found to be indirectly responsible for wrongful selection of the borrower.
Normally the financial institutions and banks are having great hopes on the abilities and capabilities of the credit manager and while dealing with the money belonging to the banks, the credit manager should take utmost care in selecting the borrower and during the course of such selection process, he should explore maximum possibilities in scrutinizing the credentials of the borrower by adopting several strategies.
In fact the purpose of loan interviewing and credit investigation is to determine the suitability of the applicant for availing the loan.The credit manager should possess the requisite knowledge about the five "C"s of credit namely; character, capacity, capital, conditions and collateral.During the course of any commercial lending, character refers to the client's willingness to repay the loan. Normally the repayment of any loan is purely dependent upon the willingness on the part of the borrower to repay the debts apart from his determination to repay.
