The problem of bad debt Josses in the Nigerian banking industry compelled the monetary authorities to close down some banks in the 1990s. This trend called for a study that would halt the trend. This study is an attempt to respond to this call. The specific objective of the study was to evaluate and examine the procedures, which commercial banks employ to evaluate commercial loan proposals. A descriptive/survey research method was adopted for the study. Questionnaire and documentary sources constituted the main instruments used to collect relevant data for the study. The responses to the questionnaire were analyzed. The chi-square statistic and correlation analysis were used to test the hypotheses formulated for the study. The findings showed that: ratio analysis was about the only quantitative technique Nigerian commercial banks staff employed in evaluating commercial loan proposals; other quantitative techniques such as MDA, logit, or LGP were not used by virtually all bankers; and there was significant relationship between academic qualification of managers/bank officials and their ability to adopt quantitative analysis for classifying commercial loan proposals.