Loan terminology glossary

by deepika

If you’re interested in contributing to our blog, and/or to get a post from Lumi to publish on your blog, please review our guidelines below. A business plan can help you obtain financing by highlighting the characteristics lenders use to assess borrowers. Rather than wasting your time filling out multiple loan applications for every bank, we shop a single application to multiple lenders. Describe the company, your product, and why you started the company. Include your chief competitors and why your product will succeed against them. If relevant, discuss the economic climate vis-à-vis your customers and products.


We read each email and regularly answer inside one business day.

Contact Details

Email: [email protected]

Because government loans often have more attractive terms than private loans, demand for them can be high and selection criteria can be tough. When the government only secures a loan, it effectively cosigns with the borrower on funds provided by designated lenders like private banks or government-sponsored enterprises . This means if the end-borrower defaults on loan repayment, the government has to repay the lender. Key financial data—This section shows the financial strength of your business.

We only want well-researched and exciting material to help us stand out from the crowd and make our website and your concept stand out. Visitors and search engines alike want to see high-quality content. More quality content means more platforms for people to locate you. Hence, you are asked to guarantee that your pitch fulfills our criteria to the word. This website is using a security service to protect itself from online attacks. The action you just performed triggered the security solution.

Also known as a P&L forecast, this section will cover the projection of how much money your company will bring in and how much profit you’ll make from those sales. The company description should include a mission statement, the company principles, any strategic partners, and your corporate structure. ● All business licenses, permits, and other approvals that your company currently possesses or has applied for. ● Current operational plan and how it will help you to repay the loan amount.

Businesses may also be covered for the absence of key employees who serve in the military and have been called for service. Loans provide benefits to both borrowers and to the U.S government as a lender. They make capital available to borrowers who need it, and the government’s initial capital is returned with interest. The CARES Act and the Paycheck Protection Program and Health Care Enhancement Act provided special funding for small businesses impacted by the economic crisis in 2020. She holds a Bachelor of Science in Finance degree from Bridgewater State University and has worked on print content for business owners, national brands, and major publications. Accessing financial services in India has become easier than ever with financiers providing dedicated mobile applications and web-based plat…

We are committed to providing a safe environment in which to make this happen. Our Annual Conference adheres to not only the recommendations of the CDC, but also to additional best practices to safeguard the health of our attendees, exhibitors, speakers, and staff. Below are the 2020 guidelines – please stay tuned should we need to implement guidelines for the 2021 event. We believe in the power and positivity of face-to-face interactions.

Related Posts