Before giving a loan to a customer, a lender examines the customer's credit report. Which explains why the lender examines the customer's credit report?

to determine if the customer is a likable person

to determine the customer's income

to determine the customer's job title

to determine if the customer is likely to pay back the loan

Question

Haylee Ford

Business

3 May, 14:58

Before giving a loan to a customer, a lender examines the customer's credit report. Which explains why the lender examines the customer's credit report?

to determine if the customer is a likable person

to determine the customer's income

to determine the customer's job title

to determine if the customer is likely to pay back the loan

+1

Answers (2)

Know the Answer?

Eliza Lam · Answer 1

To determine if the customer is likely to pay back the loan.

Dee Dee · Answer 2

Correct answer choice is:

To determine if the customer is likely to pay back the loan.

There are certain factors which determines when and to whom the loan is to be lent. The most basic factors are total income, financial obligations, and the ability to repay debt.