Maria ivanov has owned a successful clothing, boutique chain for 20 years. She has gone into debt several times to expand her business. Each time she paid off the debt in full sooner than expected. Use the scenario to answer the question. How will Maria’s record affect the loans she is offered?
She will be offered longer terms
She will be offered shorter terms
She will be offered lower interest rates
She will be offered higher interest rates
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Maria's record of consistently paying off her debt sooner than expected will likely result in her being offered lower interest rates on any future loans. Lenders will see her as a responsible and successful business owner who is likely to repay her debts on time. This lower risk profile would make lenders more willing to offer her favorable terms.
1 answer