Activity 1: Approved or Disapproved? Directions:Decide whether a loan application will be approved or disapproved considering the loan requirements of bank and nonbank financial institutions in your locality. How to do it? 1. Assume that you are a loan officer of a bank or nonbank financial institution. In your neighborhood, ask one who is planning to get a loan and is willing to be interviewed. It is highly recommended that your interviewee is already a borrower, either of a bank or nonbank financial institution so. In your A2 Tell them that this is only for practice and remind them that they may make estimations in figures asked if they do not want to reveal actual amounts in income and expenses since this is just a drill. 2. Make your own interview questions and be guided with the following needed data: Target bank or nonbank institution they intend to borrow ✓ Loan amount ✓ Civil Status ✓ Purpose of the Loan Employment Estimation of Monthly Income Estimation of Monthly Expenses including existing loan payment (if applicable) Available foan requirements 3. After gathering the needed data, match the available requirements of your interviewee with the list of requirements you have learned and make your decision as to whether your interviewee's loan application is approved or not. PC Gentle reminder: Consider yourself as a professional loan officer. You are now responsible to uphold utmost information confidentiality. Whether your interviewee is a family member or not, you must also apply fairnass with your decision. BERTON 4. Prepare a summary of data. Please do not include the name and address of your interviewee in the summary of data for confidentiality and ethical purposes. Discuss and elaborate your decision.
