In the final post on Bob’s interview with Dave Perry, Sr. Vice President of Fidelity Bank and Larry LaChance, President of Banker’s Capital, Dave and Larry discuss how their companies make decisions when someone is looking to borrow.
Dave discusses the 3 C’s of credit – character, capacity and collateral. By looking at these three areas, financial institutions can make a decision on whether to loan to the prospective borrower.
From the unconventional leasing perspectives, character is critical because if they are looking here, there is a story that has put the business owner in the position to use unconventional means to acquire money.
Listen to the discussion on the 3 C’s of Credit