Loans
What percent of the 27.5 Million U.S. small businesses use credit to help finance operations?
80%
What is Profit?
A loan with an interest rate that stays at a set level for a specified period of time
Fixed rate loan
How much is the down payment on a rented building? (On average)
2 times the amount of rent
Does Ms.Poorman have a cat?
Yes! His name is Splatters
Which type of loan fit our company best?
Personal Loan for Business
Money gained from work
Income
A loan with an interest rate that can change over time
Variable rate
How much is the down payment on a purchased building? (What percent?)
10%
Is Ms.Poorman married?
Yes! I have a husband named Jerry
Did we decide to take out a loan for our small business? Why or why not?
No, we did not. Because it would cause us to be in a greater amount of debt than neccesary.
Money spent on something
Expenses
Something pledged as security for repayment of a loan, to be forfeited in the event of a default
Collateral
How do you find what percent something is of another number?
Part/Whole = Decimal x 100 = Percent
Yes, I play the flute!
What are the 6 types of business loans we've talked about in this class? (100 points per correct loan name)
SBA Loan, Term Loan, Microloan, Business Credit Card, Personal Loan for Business, Business Line of Credit
Income = Profit + Expenses
Finance loans again, typically with a new loan at a lower rate of interest
Refinance
What percent is 500 of 1200?
About 42%
The University of Arkansas