Do you want to be prepared before you meet with our loan officers? We can help.
To get the capital you need, it helps to understand how credit decisions are made. The 5C’s of Credit are used when reviewing a loan application and setting a loan’s terms and conditions. Understanding these key factors can help prepare you to meet with your loan officer. The packet will go into more depth about the 5C’s and what they can mean when making a lending decision.
- CHARACTER – the applicant’s dependability and integrity
- CAPACITY – the applicant’s financial capacity to repay the loan and meet all the financial obligations
- CAPITAL – the applicant’s liquidity and solvency
- COLLATERAL – the physical property that will minimize the lender’s risk in the event of loan default
- CONDITIONS – the conditions for granting and repaying the loan
Lone Star’s lending experts are happy to help you through every step of the process. Give us a call today at 800-530-1252.