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Loan officers evaluate, authorize, or suggest approval of loan requests for individuals and companies.

Duties

Loan officers typically do the annotated following:

• Contact businesses or visitors to ask if they want that loan
• Meet with loan candidates to assemble information that is personal respond to questions
• Explain various kinds of loans additionally the regards to every one to candidates
• Get and validate economic information, like the applicant’s credit rating and earnings degree
• Analyze and assess the applicant’s funds to determine in the event that applicant should obtain the loan
• Approve applications or refer them to administration for a determination

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