Banks look carefully at borrowers before they lend money, and often refer to the “4 C’s” which stand for Credit, Character, Capacity and Collateral. These are the primary indicators most lenders use to evaluate risk. And while the 4 C’s are important, Neighborhood Progress Fund believes there’s usually more to the story. For us, it’s all about Community Impact. We call this the “5th C” and it carries a lot of weight when we consider someone for a loan.
- Applicant must be a legal business entity
- Business entity must be registered in Pennsylvania and located in Philadelphia County
- If an existing business, the entity must have filed tax returns in the most recent fiscal year