The document discusses the five key factors, or "Cs of Credit", that lenders consider when evaluating loan applications: 1) Condition refers to the overall economic environment that could impact the applicant's industry; 2) Capacity is the applicant's ability to repay the loan based on their financial health; 3) Collateral includes assets that can be pledged as security for the loan; 4) Capital is the amount of personal funds the applicant has invested in their business; and 5) Character involves the applicant's integrity and trustworthiness, which are important in determining if they will be approved for a loan.