A Question Of Character
The fifth C is sometimes the most important.
Q: For many years, I have heard of lenders relying on character as one of their criteria for making or declining loans. Can you tell me what is meant by character lending?
A: When the late American industrialist J.P. Morgan was asked what he considered the best bank collateral, he responded with a single word: "character." I agree with Mr. Morgan and add that character is who you are when no one else is looking.
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