While awaiting the outcome of the bid submitted Sipho looked at his bank balance and said eish! I am running out of cash. Sipho is only left with R 20 000. The second project is only 20% complete and requires R 700 000 to be completed. Sipho decided to approach a local bank for a business loan.
Gamer what does a bank require for a business loan application? Given Sipho’s track record do you think the business will be able to secure funding?
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