Sentences with phrase «business loan application requirements»
Business loan application requirements can vary depending on the loan type, term and amount.
https://www.rbfcu.org/ Not exact matches
Strict Requirements: Because many bank loans require some form of collateral, startups and existing businesses without any assets can find it difficult to get their loan applications approved.
Commenters stated that creditors are typically not staffed so that they could provide the Loan Estimate within a timeframe determined by the application of the specific definition of business day to the original Loan Estimate delivery requirement.
Industry commenters had mixed reactions to the proposed application of the specific definition of business day for determining the original Loan Estimate delivery requirement, although most opposed applying the specific definition.
The Bureau has concluded that applying the specific definition of business day to the timing requirement to provide the original Loan Estimate within three business days of receipt of an application under § 1026.19 (e)(1)(iii) would impose significant compliance costs on creditors that are not currently open for business on Saturdays, especially small creditors.
A national trade association representing mostly mortgage brokers and a State trade association representing similar entities supported the proposed application of the specific definition of business day for determining the original Loan Estimate delivery requirement.