Debt
What is the right to take possession of collateral until a debt is repaid.
Lien
What is the ability to pursue a task without being told to by someone else
Self-Motivation
A loss that an insurance company will reimburse a policyholder for in the event of a claim.
Covered-Loss
A Latin phrase (“for the sake of form”) that in business means a projection of future financial performance
Pro Forma
Something of value. Anything owned.
Assets
What is another type of debt (or money you owe someone else) other than a mortgage
Notes Payable
An individual’s self-commitment to overcome obstacles to achieve long-term goals.
Grit
The amount a policyholder (either every quarter or year) pays for an insurance policy.
Insurance Premium
An investment security that includes many different stocks purchased and held together
Mutual Fund
A loan.
Bond
What is A payment that is owed every month
Obligation
What is when an entrepreneur’s actions and decisions are guided by a set of beliefs about how he / she wants the business to succeed.
Mission-Driven
The amount an insurance policyholder receives from the insurance company to reimburse the policyholder for a covered loss.
Insurance Claim
An Internet phenomenon, where strangers learn about a business online and then decide whether or not to make an investment
Crowdfunding
A company that provides individuals and companies with access to financial markets
Brokerage
What is repaying a loan called
Satisfing the loan
What is abilities an individual develops that helps him / her succeed
Personal Capabilities
The individual or business that purchases an insurance policy for various types of protection (examples: fire insurance, life insurance, etc.)
Insurance Policyholder
Cash, publicly traded stocks, government bonds or corporate bonds that can be quickly turned into cash
Cash Instruments
Expenditures on equipment the business will use for many years.
Capital Expenditures
What is the percentage of a loan a bank or online credit company charges when a small business receives a loan.
Origination Fee
What is relationships and resources that help individuals succeed
Personal Support Systems
The amount an insurance company makes a policyholder pay as part of any claim.
Deductible
Individuals that make small investments in an enterprise or to support an entrepreneur where they do not expect an immediate or large return on investment.
Angel Investors
Cash, publicly traded stocks, government bonds or corporate bonds that can be quickly turned into cash
Cash Instruments