Loan officers can be friend or foe - depending on whether they accept your loan application. Loan officers prepare, analyze, and verify loan applications, make decisions regarding the extension of credit, and help borrowers fill out loan applications.
Loan officers gather basic information about the loan request.
They also keep abreast of new financial products and services so they can meet their customers' needs. Commercial and business loans provide companies with capital, often to pay for expansion plans. For example, a business may take out a loan in order to open a new location, or to upgrade existing equipment. Consumer loans include college loans, automobile loans, and other personal loans. Mortgage loans are loans taken out to finance the purchase of property.