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Question : Question 8 You seeking a 3500,000 interest-free

Question 8

You are seeking a 3500,000 interest-free loan to purchase and run a 55-unit self-storage rental facility. The loan has a 10-year term. Your business plan indicates that each unit will be rented for $100 per month. Are you a good risk? What aspects besides your pro forma financial statements will the loan officer consider? [3 Marks]

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