The 5 C's of Credit

58 East Main Street,Statesboro GA 30458

18 May, 2023

Description

The five C’s of credit describe a borrower’s creditworthiness based on their character, capacity to repay the loan, available capital, economic conditions, and collateral. Banks and other financial institutions use these factors when making lending decisions, so it’s important to understand them before you apply for a loan. As part of Bank of America's ongoing commitment to advancing equality and economic opportunity, Bank of America has partnered with Exodus Management and Consulting, LLC, to offer events and programs that remove barriers to minority business success and economic growth. Closing the Entrepreneurial Gap™ Initiative is a joint effort to reach populations that traditionally have faced barriers in accessing credit, capital, and other tools and aid them in reaching economic parity.