A customer qualifies to receive a loan only if he has the capacity to repay it in a time bound manner. Only those people that satisfy the conditions of the bank will be given significant sums of money by a lending institution. All banks and lending institutions always look into the financial capability of a borrower to repay the loan within the agreed time frame.

However, the rules and norms used to evaluate a customer vary from one bank to the other. Banks with international operations used to incorporate rules and regulations according the particular rules and regulations in force in those individual countries. This is inevitable because for example an American bank with operations in China must obey the laws binding upon other local banks and other lenders in that country. Only then will a multinational bank be permitted to open shop in China.

The question of pre-qualifying was and is a vexed issue in the United States. Since the economic climate of the country is changing fast, the purchasing power of people from the different strata of the society is fluctuating. Thus, the rules and regulations formulated once are not at all relevant after a few years and they need to be either amended or totally discarded. Also the loopholes in the laws result in vexed litigations that never get settled amicably.

While the major players follow rigid rules regarding prequalification, the private banks like those managed by rod aycox follow flexible rules to evaluate a customer. Even if a customer does not have the financial capacity to repay a loan, the LoanMax, the flagship firm of Aycox will consider his request, provider that his immediate family members with good jobs or his colleagues in the work place are ready to security to the loan.

In other instances, when a customer without anyone to offer security had a good business plan, LoanMax Inc never shied away from funding such a plan. This is one reason as to why most of the small businesses now repose much faith in the operations of LoanMax. If the present financial turmoil is to continue, then players like Rod Aycox will have a major role to play in meeting the financial needs of the prominent businesses.