Coming out of the Pandemic, many business owners' income statements and balance sheets look bleak. Most small businesses, on average, had their poorest performance years during 2019 and 2020. It was a Force Majeure - unforeseen, unexpected, difficult to mitigate situation. Those poor performance years do not make most lenders happy. So, how do you - the small business owner - communicate with your banker to get your banker to see how good your company is or could be? Do you need money to grow out of the Pandemic environment? Do you need funding to change your business model? Do you need additional Working Capital to ride the change in the market? In this article, we reveal to you the "5 C's of Credit." They are five simple principles most banker rely on to determine if a situation is ripe for making a loan. Use it as a guide for your next conversation with your banker.
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