In the past, the five Cs (character, capacity, conditions, capital, and collateral) were often enough to evaluate new credit. In the risk-averse 1990s, much more is involved. Banks have become increasingly skittish about making loans in the 1990s to smaller companies. What to do? Goldstick, a consultant with experience in business turnarounds and loan workouts, has written a textbook for the 1990s borrower. He looks at three major developments in the 1980s that have changed traditional methods for securing a loan-loans to developing countries (LDCs), highly leveraged loans for company buyouts, and risky commercial real estate ventures, coupled with radical changes in governmental regulatory oversight. While Goldstick’s prose is no more than competent, the message he advances is crafted exceedingly well, and it behooves all loan applicants to pay attention. Recommended for all business collections.
Richard Drezen, formerly with Merrill Lynch Lib., New York
Copyright 1994 Reed Business Information, Inc.
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