Micro Enterprise Review Part 3

Front

A guarantor:

Back

Is a credit worthy individual or business responsible for repaying a loan if the debtholder cannot

Front

Online loans are:

Back

easier to obtain but more expensive than bank loans

Front

One critical difference between bank loans and online loans is:

Back

the amount of information the applicant must provide

Front

Which is a form of debt? stock, option, loan, passbook

Back

loan

Front

Which factors reduce the cost of borrowing from a bank? Options: a track record of repaying past debt at that bank, a track record of consistently delinquent payments, other outstanding loans at that bank, other outstanding online loans

Back

a track record of repaying past debt at that bank

Front

Compared to an online loan, a bank loan is:

Back

less expensive (lower interest rate)

Front

Which factors reduce the cost of borrowing from a bank? Options: an outstanding note payable, lots of company assets, a guarantor, having multiple mortgages

Back

a guarantor

Front

Compared to a bank loan, an online loan is:

Back

usually available at a higher interest rate

Front

The financial term “mortgage” refers to:

Back

money borrowed to buy real estate

Front

The financial term “fiscal year” refers to:

Back

Twelve months for measuring financial results