Why We Care So Much About Character
*This post is from CMB partner Essex Lease. Visit them for flexible lending solutions.
Essex Lease Financial customers are used to hearing us talk a lot about “character.”
As one of the 5 C’s of Credit, character comprises a primary factor independent lenders like Essex use to make lending decisions.
But it’s important to know that the 5 C’s are not prescriptive; different lenders emphasize different factors more than others. At Essex, the “C” we focus on most is character. For us, it’s just as important as capital or collateral.
Why? Because it aligns with our promise to be a relationship-focused lender.
In lending and financing terms, character is your credit history, but at Essex, we think about it a bit differently. To us, character is more than just a credit score; it’s also things like your work ethic and your business vision. Who you are and what you stand for are just as important for demonstrating your character as the numbers on your balance sheet.
Here is what character means to us and why we care so much about it.
It’s How We Clear the Path
Entrepreneurs are used to hearing ‘no.’ At Essex, our job is to find a way to yes.
It takes grit and determination for our customers to succeed. That’s character.
Many of our customers come to us because big banks are no longer willing to work with them. In those moments, all they have left in their business is their character.
We promise to match that same grit and determination to create the right lending and financing plan for your business. Character allows us to look at the full picture so we can give you honest advice.
It Allows Us to Get Creative
At Essex, we know our stuff. We pride ourselves on being experts on our customers and their business. We’re here for you.
Financial statements tell us where you’ve been; character tells us where you’re going. That’s why getting to know you on a personal level is so important to us.
When we understand the story behind your business and your vision for the future, we build trust. And unfortunately, lending partnerships based in trust are far too uncommon in the financial industry. As an independent lender, we want to change that with creative solutions that let you know we’re in your corner.
It Helps Us Make Decisions Quickly
Businesses need answers fast. Solutions that take too long are not really solutions at all.
By focusing on character, we can better assess your situation and get you an answer quickly.
Ultimately, we invest in people, not financial statements. When you succeed, we succeed, which is why your character is at the heart of every decision we make.
Want to see what Essex Lease Financial can do for your business? For more than 35 years, we’ve been helping Canadian businesses raise capital for growth, restructure debt, finance equipment, and access the lending solutions they need to succeed.
Get in touch with us today to learn more or get started.