Last time we talked was back in November of 2020, and your last name was “McNair.” Now, you go by Karenza Rodriguez. Do you have some exciting news to share with us?
Well… I hate to be the bearer of un-exciting news, but other than the name change, nothing is new! My husband and I were supposed to have our wedding in April 2020, but as we all know, COVID had other plans that year. We decided to get married anyway, but I wanted to save the name change as something special for when we were able to have a ceremony and celebrate with our family and friends!
You’ve been with Primary Funding for over 3 years now. What was your path to Primary Funding? How did you end up joining the team?
I found Primary Funding through LinkedIn. I was just about halfway through my final year at SDSU and decided to start pursuing careers that were in line with my field of study. When I came across the job listing for a Credit Analyst here at PFC, I actually made a LinkedIn account for the sole purpose of applying. Candidly, it still baffles me how everything just seemed to fall into place. But, three and a half years later, here we are!
Sounds like it was meant to be! Here’s a job question for you… What was the first official real job you ever had? What do you remember most about it?
I got my first job in high school as an “ice cream scooper” at Baskin Robbins. I remember how much more I loved working than going to school, because it didn’t include having homework or studying for a test afterwards… Once you were done with your shift, that was it!
One of your tasks at Primary Funding is to perform underwriting. What is underwriting? Why is it necessary?
In short, underwriting is the process of evaluating risk. We use credit information from potential borrowers to determine if a financing facility will perform as expected and if there is adequate collateral coverage. Underwriting is necessary for a lender, like Primary Funding, to determine the risk of default or non-payment and it also helps with establishing the size of a loan, borrowing rates, and other terms.
Does underwriting affect someone’s credit?
Generally speaking, underwriting a business loan does not affect someone’s credit. However, a lender may elect to run personal credit checks on all principals of the business, which will mark their report with a “hard inquiry,” potentially lowering the score. On the bright side, the impact of a hard inquiry lessens with time and typically falls off completely within two years.
Last question… If you could time travel, what time would you travel to, and why?
I wouldn’t go very far, probably back to my high school years. I was very shy when I was younger, and I feel like that prohibited me from getting involved in extra-curricular activities, sports, and other after-school events so I would love the opportunity to go back and do all those things!