Explain what a credit risk assessment is in your own words. Why is a credit risk assessment important to a lending institution like a commercial bank? What are the steps in the credit risk assessment process?

EBK CONTEMPORARY FINANCIAL MANAGEMENT
14th Edition
ISBN:9781337514835
Author:MOYER
Publisher:MOYER
Chapter16: Working Capital Policy And Short-term Financing
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Explain what a credit risk assessment is in your own words. Why is a credit risk assessment important to a lending institution like a commercial bank? What are the steps in the credit risk assessment process? 

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