Chamber members gathered for the August meeting of the Small Business Council that featured a training on what banks consider when reviewing loan requests.
Stacey Palovich, SVP of Business Banking for both Newburyport and Pentucket Banks, led the discussion that focused on what she called the “5 C’s of Credit” – Capacity, Collateral, Condition, Character and Capital. Palovich discussed in detail each of the 5 C’s, with a conversational back-and-forth among audience members who asked numerous great questions.
The mission of the North Shore Chamber’s Small Business Council is to advocate for and support the interests of small businesses in the region. Meetings are held monthly, typically the first Tuesday of the month, and are free for Chamber members and $25 for non-members.
Thank you to Newburyport Bank, the exclusive Platinum Sponsor of the Small Business Council. Newburyport Bank’s mission aligns perfectly with the Council’s objectives: fostering strong community ties, supporting local businesses, and fueling economic growth.
The next meeting of the Small Business Council is set for Tuesday, Sept. 9, from 8 to 9 a.m. at the Chamber office, 500 Cummings Center, Suite 1700, Beverly. Registration is required.
