Episode#6 Credit Score and the 5 C's
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Episode#6 Credit Score and the 5 C's
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About this listen
Key Takeaways
● The 5 C’s of Credit are the five things many business lenders use to determine your creditworthiness as a potential borrower and ultimately whether or not to give you a business loan.
● The first C is Character and is a measure of your creditworthiness based on indicators like your credit score and credit history.
● The second C is Capacity and is a measure of your ability to pay the lender back.
● The third C is Capital and is a measure of how much skin you are willing to put in the game, usually in the form of a down payment.
● The fourth C is Collateral and is a measure of what asset you intend to use to back the loan.
● The fifth C is Conditions and is a market analysis of the trends of your business industry
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