5 Cs of Credit: What They Are and Why Are They Important | XYZspot
When a person (individual or business) applies for a loan (called a “credit” in the banking industry), many things can happen before the lender decides whether or not to approve the loan request. Most lenders follow the 5 Cs of credit: Character, Capacity, Capital, Collateral, and Conditions. Paying close attention to these details allows lenders…