CEO learned the WHY's and HOW's of personal and commercial financing from Old National Bank managers Matt McFarland, Sarah Plotkin, and Dan Gmelich. Matt McFarland (Mortgage Loan Originator) shared how securing a mortgage loan happens and what programs can help first-time buyers.
Sarah Plotkin (Banking Center Manager) answered numerous student questions about establishing credit, building credit, and what a person's credit score means.
And, Dan Gmelich (Commercial Relationship Manager), discussed the 5 C's of banking and what is considered by a bank when extending a customer a loan.
1. Character--a person's credit history
2. Capacity--a person's income and ability to repay
3. Capital--a person's own contribution to the loan
4. Collateral--what the person pledges as security
5. Conditions--economic factors that are happening at the time
#miehq #personalfinance #financialliteracy #OldNationalBank
