Are going to grant the loan

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Problem 1: Mr. X is indebted to your company for P1.0M. the said amount is payable in two (2) years, to be paid quarterly. In reading the reports, it showed that Mr. X was not able to pay the obligations since the first payment date. It is past due now for 9 months. As an Account Officer of the company, what are you going to do?

Problem 2: Mr. B is a loan applicant, in the credit history, 5 years ago, his records reflected that he has "unsatisfactory" credit dealing. Based from interview, he admitted that those things happen because he incur losses in his business that turn to insolvency. Mr. B is asking for second chance to be granted a loan. As the Account Officer, are you going to grant the loan? he is borrowing P2.00M as additional working capital on the current business. are you going to approve the loan? justify your answer.

Reference no: EM132944717

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