May 6, 2019 Harry Harmon

Creditworthiness (solvency) – the ability to repay the loan taken together with interest on dates specified in the contract. The borrower’s creditworthiness affects the creditworthiness of the borrower, its amount and the repayment period. According to the Polish banking law, having creditworthiness in this sense is a prerequisite for obtaining a loan. However, in some cases, a credit institution may give credit to a natural, legal person or organizational unit without legal personality without creditworthiness, if it agrees to establish a special loan security or provides a realistic plan to improve its financial situation. Credit institutions independently and on the…