Frequently, when a bank or approves a loan to a customer, they have no idea what kind of person they’re doing business with. While they’ll do their due diligence with credit checks, that’s not the only way to determine the caliber of the customer.
Want to determine the reliability of a person? Don’t worry about what they say. Rather, watch how they live their lives and conduct their business. Read on to learn 5 signs that your borrower is someone trustworthy.
- Organization and attention to detail are great indicators that they’re serious minded. We’re not just talking about if their paperwork is in order. Are their employees scheduled and deployed intelligently?
- An important sign is if they’re still accepting bids, or if subcontractors have been chosen for the job. If their subcontractors are set up and prepared to go, that means they’re ready to begin the project upon release of the funds.
- If the job site is clean and well-organized, that’s a strong indication of a contractor that takes pride in their work. As a result, someone like this is inclined to make payments in a timely manner.
- A contractor that adheres to a predetermined job timeline and keeps things on schedule, will pay employees and subcontractors when they’re supposed to, wrap up the project on schedule, and pay lenders on time.
- One of the characteristics of a reliable person is if they’re proactive. Someone who seeks out new opportunities and works to resolve problems before they spiral out of control is someone you can feel good about doing business with.