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Term of the Day:
5 C's of Credit
The five key elements a borrower should have to obtain credit: character (integrity), capacity (sufficient cash flow to service the obligation), capital (net worth), collateral (assets to secure the debt), and conditions (of the borrower and the overall economy).
On This Date:
December 29, 1921: Sears Roebuck President Julius Rosenwald, pledges $20 million of his personal fortune to help Sears through hard times.
Notable Quotable:
The highest use of capital is not to make more money, but to make money do more for the betterment of life - Henry Ford
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