I know this can be a problem, but we generally require at least one guarantor.
What kind of person would be best, a relative or a business associate?
Either one is OK, but most people pick a relative because it's usually a little easier.
OK... I'm sure my brother won't mind helping me out.
Good. So finally we need to discuss the terms of the loan.
What kind of interest do you charge?
It depends on how long you take the loan out for.
If you plan to pay it back within two years, the interest rate is six percent.
A four-year deal works out to seven and a half percent.
I think two years should be fine. But six percent is a bit high.
Is there any way to get a better rate?
Well, you've been a customer here for over a decade.
I can't make any promises, but I'll try to get it down to five percent. How's that sound?
Five percent works for me. Ted, I can't thank you enough for your help.
Don't mention it! See you Friday.