Extending Credit to customers
the character, capacity, and capital is all apart of __
three Cs of credit
what are the five CS of banking are
cash flow, capacity, capital, collateral, condition
APR is ...
annual percentage rate
a loan for a specific amount of money that is repaid with interest in regular installment
installment loan
a that has been granted credit by a retail business
consumer credit
one that can be in stores of the company that issued it
proprietary credit card
credit extended by a business by another business is called
trade credit
include items such as application
fees
TRUE OR FALSE
obtaining a building is an example of secured loan
true
agreement between two parties in which one party lends money or provides goods or service
credit
a written set of guidelines used by an organization to determine how many customers will be proved for credit
credit policy
the bank provides two main types of business financing
business loan and lines of credit
TRUE OR FALSE
the higher the APR, the larger the finance charge
true
credit loan that requires collateral or known as?
secured credit
a McDonald was given has been granted a what
business credit
a record of credit history for financial behavior for a business or indivisual
credit report
an established amount of money a bank make available for a business to use
business line of credit
TRUE OR FALSE
a courting truth in Lending Act money lenders and card companies are not required to state the APR of loan when they advertise
false
the total amount paid by a borrower to a lender for the use of credit
finance charge
Austin has given David money so David could pay for something David said he'll pay back Austin. David is a
debtor
there are three national credit reporting agencies
Equifax experian and TransUnion LLC
money borrowed for a specific purpose
business loans
represent the cost of the loan
interest rate
TRUE OR FALSE
interest is an amount paid by a lender to the borrower for the use of credit
false
Austin has given David money so David could pay for something David said he'll pay back Austin.
Austin is a
creditor