Discuss the main stages in a lending process

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The Department of Statistics reported that Small and Medium Enterprises (SMEs) comprises more than 90% of the total business organizations in Malaysia. For the year 2019, Malaysia's SMEs GDP grew at 5.8 per cent as compared to 6.2 per cent in 2018. However, SMEs consistently reported that their businesses continue to encounter various difficulties to secure suitable funding. Growth is constrained by lack of funds. Financial institutions are generally reluctant to extend credit to SMEs due to various reasons.

As a loan officer, discuss the 4 main stages in a lending process by outlining the activities to be carried out during each stage.

Reference no: EM132867475

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