How is a CDC loan different from a bank loan?
- Date added:
- Tuesday, 11 May 2010
- Hits:
- 1132
Answer
Our lending policies differ from traditional lending institutions in the following ways:
We visit clients onsite at their businesses to identify problems before or as they arise.
- We take second, third or fourth positions;
- We assign higher values to security items;
- We accept seasonal and interest payments.
- We take chattel mortgages on automobiles, boats, RVs, ATVs, etc.
- We do entertain unsecured loans generally up to $10,000.00 total exposure.
We visit clients onsite at their businesses to identify problems before or as they arise.
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