BUISENESS MANAGEMENT
MARKETING
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Select correct responses. Sources of Finance?Laura have decided to secure a bank loan, however they have asked for her house. What is the correct term for this?
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Grant
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Assets
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Security
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Distribution
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Explanation:
Detailed explanation-1: -Types of Secured Loans Vehicle loans. Mortgage loans. Share-secured or savings-secured Loans. Secured credit cards.
Detailed explanation-2: -Collateral is an asset pledged by a borrower, to a lender (or a creditor), as security for a loan.
Detailed explanation-3: -Collateral security is any other security offered for the said credit facility. For example, hypothecation of jewellery, mortgage of house, etc. Example: Land, Plant & Machinery or any other business property in the name of a proprietor or unit, if unencumbered, can be taken as primary security. 2.
There is 1 question to complete.