Jack is an experienced builder with over 15 years in the construction industry. He has worked for various construction firms, managing both residential and commercial projects. However, Jack has never independently completed a project from start to finish as the lead builder. Jack now wants to branch out and start his own construction company. He has identified a promising opportunity to build a new apartment complex in a rapidly developing area of the city. The total project cost is estimated at $5 million. Jack has approached Monash Bank to seek financing for the project. He has provided the bank with his business plan, project details, cost estimates, and projected cash flows and returns. While Jack has significant construction experience, there are a few key risks the bank needs to evaluate: 1. Collateral: Jack does not have enough personal assets or real estate to fully collateralize the $5 million loan. His current collateral valued at $1.2 million is insufficient. 2. Credit History: As Jack has never completed a project independently as the lead, he does not have a prior history of successfully delivered construction projects to demonstrate his ability to complete this apartment project. 3. Project Risks: Like any construction project