The 5 Cs
So you're ready to expand your business. You've found the perfect second location, or perhaps it's time tome to hire more staff. You're locked and loaded, ready to go except for one itty-bitty teeny-tiny thing...funding. Unfortunately, you don't have enough cash on hand to make this next phase happen, which means it's time to consider a small business loan. Since the recession, financial institutions have been drawing a hard line when it comes to lending. It is difficult, but not impossible. Interest rates are super low, so if you're going to go for it, now would be the time. But before you do, it is best to know exactly what you are in for. There are five things, called the 5 Cs, that the bank looks for when evaluating potential borrowers. Follow the jump to see what the 5 Cs are.