BUSINESS ADMINISTRATION
FINANCIAL MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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The most of cash flow financing most frequently used by entrepreneurs
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A longer time period for use of the money
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Obtained by a business with a track record of sales and profits
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Detailed explanation-1: -Installment loans-also known as installment credit-are closed-ended credit accounts that you pay back over a set period of time. They may or may not include interest. Read on to learn more about different types of installment loans and how they work.
Detailed explanation-2: -An installment loan refers to both commercial and personal loans that are extended to borrowers and that require regular payments. Each of the regular payments for the loan includes a portion of the principal amount, as well as a portion of the interest on the debt.
Detailed explanation-3: -The business installment loan is an unsecured product. Hence, no collateral is required. Can I prepay the loan?
Detailed explanation-4: -Three examples of installment loans are auto loans, mortgages and personal loans. Personal loans can be used for almost anything, while a mortgage is for financing the purchase of a home and an auto loan is for purchasing a new or used vehicle.