When it comes down to it, a lender has to recommend a business loan based on limited information. Lenders have three questions:
- Will the borrower pay if he or she can?
- Does it look like he or she can?
- What if I make the loan and he or she can't pay?
Linda Keith is an experienced CPA, business owner, bank consultant, and lending trainer. She'll walk you through the 'Six Cs of Credit,' criteria lenders use to decide on any loan request. Lenders will look for clues to these criteria in everything the borrower says, does, and provides. When you understand the criteria, you can improve the quality of the information provided and the likelihood of a 'yes' on the loan.
Upon successful completion of this course, participants will be able to:
- Identify the 6 Cs of credit, their definition, core characteristics, and their effect on the lending process.
- Recognize the clues that lenders look for in each of the 6 Cs and how lenders can use these clues as a lending assessment tool to reveal underlying positive factors and negative issues.
- Recognize what additional information a borrower can offer to a lender and constructive ways that a borrower can justify factors that may impact the lending process.
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