Directions: There are 4 passages in this sections. Each passage is followed by some questions or unfinished statements. For each of them there are four choices marked A, B, C, D. You should choose the best answer.
　　Getting a Bank Loan
　　What are the three ’c’ s?
　　Traditionally bankers look at what are called the three ’c’ s: character, credit and collateral. Character means more than not having a criminal record. It means that the banker feels confident that you are not going to suddenly disappear for parts unknown if the business runs into trouble. Specifically bankers like to see ties to the community such as long residence, family ties, and home ownership. A clean credit history is important. A couple late credit card payments shouldn’t be a factor, but missing mortgage payments for three months in a row will require a
　　good explanation. Bankers like good character and good credit, but they live for solid collateral. Equipment, buildings and trucks---that’s the kind of stuff that bankers really like for collateral-solid value and likely to be worth a lot even if the business goes bust. Inventory, raw material and goods are second choices for collateral---they will lose their value more quickly than fixed assets but still be worth something.
　　Can you get a business loan?
　　The criteria for business loans varies much more widely than for consumer loans and often varies quite a bit from one banker to the next at even the same bank! However here are some rules of thumbs to give you an idea of your chances of getting a loan.
　　Getting a loan for a new business is tough.
　　Fixed assets such as machinery or buildings can almost always be financed.
　　Current assets such as inventory or goods in process increase your loan chances.
　　2+years of profitable operation greatly increases your loan chances.
　　The larger the owner’s investment in the business the better your chances of getting a loan. Loans to small corporations will often have to be personally guaranteed by a shareholder.
　　It is difficult to get loans to offset operating losses.
　　It is usually possible to get a loan to modestly expand a profitable business.
　　1. ’character’ means___________________.
　　A. not having a criminal record
　　B. having a criminal record
　　C. that the banker feels confident that you are not going to suddenly disappear for parts unknown if the business runs into trouble
　　D. others
　　2. Which kind of stuff that bankers really like for collateral-solid value and likely to be worth a lot even if the business goes bust? ________________.
　　A. Equipment
　　B. Inventory
　　C. Raw material
　　D. Goods
　　3. Loans to small corporations will often have to be guaranteed by _____________.
　　A. the other corporation
　　B. a shareholder
　　C. the government
　　D. the bank
　　4. Three ’c’ s refers to ___________________.
　　A. character
　　B. credit
　　C. collateral
　　D. all of the above
　　5. ’A clean credit history’ means ________________________.
　　A. a good reputation
　　B. a simple credit history
　　C. a good credit standing
　　D. nothing

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