U5 DB1 (3).docx - There are many circumstances in which the principles of the 5 Cs of credit can be applied Utilizing the company that you work for or a

U5 DB1 (3).docx - There are many circumstances in which the...

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There are many circumstances in which the principles of the 5 Cs of credit can be applied. Utilizing the company that you work for or a company that you are familiar with, name one of the 5 Cs of credit, and discuss how it would come into play in the workplace. I currently work for a small trucking company in my hometown as the admin assistant. With that being said, the one principle of the 5 Cs I could use for an example is Collateral. The owner of the trucking company basically finances the drivers unless they have enough credit to get a loan from a bank and set up their own financing. I’m using this as an example because we have a few Owner Operator’s who lease our trucks. Every week they have a truck payment and insurance that is deducted out of their weekly settlements. Collateral falls into play here because if the drivers sign a contract with the company and have to fulfill the guidelines. They have a
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