Ownership
Sole proprietorship
People who own shares in the corporation
Shareholders
Formal terms for borrower and lender
Debtor and creditor
Money, materials etc. used to run a business
Capital 🤑
Type of account with little to no %interest, used daily
Chequing
Multiple people own me
Responsible for the entire corporation’s operations, and is often also on the board of directors
CEO
Has a physical location
Brick-and-mortar
A policy that you buy which transfers risk to whoever's selling the policy
Insurance
If the borrower cannot pay back, the lender can seize me. I am what makes a secured loan secure.
Collateral
A business owned and operated for the benefit of its members
Cooperative
The executive vice-president responsible for finances
CFO
An entity that acts as the middleman between two parties in a financial transaction
Intermediary
Type of crowdfunding where the investor gets a share of your business
Equity-based crowdfunding
Credit arrangement where a limited amount of money can be taken out at any time for any purpose
Line of credit
When the owner(s) are entirely responsible for the debts of the company
Unlimited liability
When the shares of the corporation first become public
Where financial instruments like stocks and bonds are traded
Financial markets
Raising money for underprivileged entrepreneurs in developing countries with poor credit
Microfinance
Selling a part of your home's value while keeping your whole home
Reverse mortgage
Partnership with unlimited liability
General partnership
Board members consulted for external advice and are not part of the day-to-day operations
Outside directors
Section of the US Tax code exempting nonprofits from taxes
Financial institution that facilitates the purchase and sale of stocks and bonds
Brokerage
An american law which caused investment banks to become separate from commercial banks
Glass-Steagall