Video

  • 9 minutes

The 5 C's of Credit

 
The number one “C” in the five C’s of credit is character. Character is the moral qualities and actions of a credit applicant which oblige the applicant to pay debts as they become due. As a company you need to be aware of any red flags that come up when dealing with applicants. If the applicant becomes upset or short-tempered when you question negative information you have been made aware of that should be a red flag for you.

In this 8-minute video our speaker, Ronald A. Sereika, reviews the other four C’s of credit and their definitions. He also discusses how to make a credit decision just by reviewing a balance sheet. Look at the working capital ratio first to make sure they have enough assets to cover debt for the coming year. Work the ratios - current ratio, debt to equity, DPO, and DSO. Look at the total they have in accounts payable, and see what the percentage of what you want to sell to them or loan them is of the AP total.

Ronald A. Sereika, of CooperVision, won the 2013 CCE award of excellence presented by the National Association of Credit management, as well as the 2010 National Instructor of the Year award. Mr. Sereika was a national speaker at NACM Credit Congress, NACM Eastern Regional Conference, Up-state NY Annual meetings from 2011 to 2015.
Runtime: 8 minutes

Faculty

Ronald A. Sereika

Ronald A. Sereika

Mspark

Agenda

Faculty

Ronald A. Sereika

Ronald A. Sereika

Mspark

Ronald A. Sereika, CCE, CEW

  • Director of credit and payment solutions for Mspark
  • 34 years of managing credit departments
  • Speaker at NACM Credit Congress and NACM Eastern Credit conference, and taught NACM CAP classes
  • Author of articles in Credit Magazine, The importance of building relationships
  • Member of NACM and past member of several trade groups and NAA
  • 2010 NACM Instructor of the Year, 2013 NACM CCE of the Year
  • B.S. degree in accounting, Fredonia State University; certification in credit and finance, Amos Tuck School at Dartmouth University
  • Can be contacted at [email protected] or 585-705-0304

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