Cryptocurrency Q&A
What are the 7 P's of credit?
What are the 7 P's of credit?
Thu Jan 09 2025
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7 answers
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I'm trying to understand the 7 P's of credit. I've heard about this concept, but I'm not entirely sure what each P stands for or how they relate to credit. Could someone explain this to me?
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7 answers
Sat Jan 11 2025
The first P stands for productive purpose, emphasizing that loans should only be granted for activities that generate income.
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Sat Jan 11 2025
Proper utilization is the fifth P, focusing on the need to ensure that loan funds are used for the intended purpose.
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Sat Jan 11 2025
The second P, personality, underscores the importance of considering the borrower's trustworthiness and credibility.
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Sat Jan 11 2025
Productivity is the third P, which highlights the need to maximize the productivity of resources utilized in lending activities.
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Sat Jan 11 2025
The 7 Ps represent a set of guiding principles for banks in the financial sector.
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