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Generally, most of you know running a school is not that much easy whether it's a private or government school, each school require new technology, renovation, infrastructure changes over a specific period of time & such other things. Wherein school loans help to make it happen without effecting regular cash flow management.
There are few eligibility criteria you are required to have a look before applying for loan -
There are Top factors that generally affects School loans Eligibility Criteria as given below-
Existing Debts: - Lender review your loan application to check whether you pay any interest to existing loan, if yes then obviously it lowers the income ratio as well as the loan eligibility.
Low fee collection: - As stated in criteria minimum school annual total fee collection should be above 75 lakhs. Therefore, if you were unable to match the criteria you lower the chances.
To increase School loans eligibility, you need to consider points as given below, this will aid you in increasing your eligibility level.
Track your credit record: - One of the major point lenders consider is your credit score to know your creditworthiness. Hence, always track your credit record whether you missed or not paid any payment as by doing this let your eligibility increased.
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