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How to create a loan recovery strategy for a lending business

Loan recovery is a crucial aspect of any lending business. When loans go into default, it can have a significant impact on the financial health of the business. It is essential for lending businesses to have a solid loan recovery strategy in place to minimise losses and ensure the overall success of the organisation. A good loan recovery strategy covers the steps you need to take to recover late payments, handle defaults, and avoid bad debt.

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