Tasty Turkey Meatloaf
Unlock the Best Equipment Deals How Your Credit Score Makes a Difference
• 1 lb ground turkey • 1 onion, diced INGREDIENTS
When acquiring the equipment your business needs to thrive, your credit score is more than just a number — it’s your key to unlocking the financing you need. Credit scoring plays a huge part in determining an applicant’s creditworthiness. It tells someone’s payment history and track record for making timely payments. Understanding how your credit score impacts your financing options can make all the difference. Let’s explore why your credit standing is vital in securing the best deals on equipment! Your credit score is a significant component of the five Cs of credit: collateral, cash flow, character, capital, and conditions. Collateral Collateral is the personal assets a borrower will pledge as security for a loan that the lender can collect if loan payments stop. The collateral for loans for equipment like helicopters, lathes, and tow trucks is typically similar equipment. You may be able to use other pieces of towing equipment, for example, as collateral for equipment you want to finance. Cashflow
• 2 tbsp ketchup • 2 tbsp Worcestershire sauce • 2 eggs • 2 tbsp chopped fresh parsley • Salt and pepper, to taste
• 2 cloves garlic, minced • 1/2 cup bread crumbs • 1/2 cup grated Parmesan cheese
DIRECTIONS
1. Preheat oven to 375 F and line a baking dish with parchment paper. 2. In a large bowl, combine turkey, onion, garlic, bread crumbs, Parmesan cheese, ketchup, Worcestershire sauce, eggs, parsley, salt, and pepper. 3. Form the mixture into a loaf shape and place it in the baking dish. 4. Bake for 45 minutes or until the internal temperature reaches 165 F. 5. Let the meatloaf rest for 10 minutes before slicing.
2024 AACFB Commercial Finance Expo Sept. 4–5 • New Orleans, LA The Aero Summit Leasing Panel Discussion Oct. 16–18 • The Wynn, Las Vegas, NV 2024 NEFA Conference Nov. 11–14 • Indianapolis, IN Upcoming Events RECENT EVENTS This July, we attended the Oshkosh, WI Fly-In, where we spent a day at the Oshkosh Airfield and met with some of our broker associates in the aircraft financing industry.
Documents like bank statements and tax returns help show that you can repay a loan. We want to get a good sense of your company’s revenue, profitability, and debt leverage. Character We also examine the borrower’s reputation in financial matters. During a character check, we review markers like credit history, time in business, experience, and reliability. Capital Your capital level will also play an important role in determining creditworthiness. It includes your net worth, personal financial investment into the business, retained earnings, and your other assets. The more capital you can provide, the better your options for borrowing, as it shows a sense of ownership and a means to repay the debt if needed. Conditions We also look at the industry as a whole and how its economic conditions may impact a borrower. These conditions may complicate someone’s successful repayment of their loan. It’s essential to have a plan in place to deal with unexpected conditions when you apply for a loan.
By understanding your credit score’s impact on the five Cs of credit, you can better position yourself to secure the best financing deals. With a solid credit standing, you can invest in machinery and your business’s future success.
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