Can the applicant request for deferred loan payment? For example, defer by 1 year or when revenues reach a certain pre-agreed level?
singapore (I-Newswire) June 2, 2014 – If you go for a loan to the mainstream financial institutions and request for deferment period of one month, unquestionably, they would not allow you any deferment. Undoubtedly, they give loan on purpose. They have staffs, office and various other expenditures and they cannot afford any deferment.
Logically, you go to these companies, when you have insufficient fund and you have a better business plan for the investment. Moreover, you also have some of your own resources such as premises, cash and existing business structure.
Therefore, you do not need to ask for deferment of one month or more. You have a great hope that you would succeed in your business and in a few years would return the borrowed loan. However, not all that glitters is gold. Sometimes, people have to face significant losses and they have to face bankruptcy.