Business Loan Glossary Alabama

The following contains a glossary with terms and information you should know about a business loan . Read on if you are interested in obtaining a business loan in Alabama and want to get started.

Local Companies

SMALL BUSINESS CLINIC OF AL
334-284-3640
PO box 231074
Montgomery, AL
Wachovia
(334) 821-8184
307 N Gay St
Auburn, AL
Title Max
(205) 553-3470
3318 McFarland Blvd E
Tuscaloosa, AL
Payday Loan
(334) 358-5550
202 S Memorial Dr
Prattville, AL
Small Loans Inc
(256) 830-0744
2022 Jordan Ln NW
Huntsville, AL
Title Cash
(251) 575-4536
Monroeville, AL
US Title Loans Inc
(205) 786-4030
744 Lomb Ave SW
Birmingham, AL
Security Finance
(334) 382-1061
510 E Commerce St
Greenville, AL
The Cash Station
(334) 738-2300
216 Prairie St N
Union Springs, AL
Peoples Bank of Coffee County the
(334) 894-6293
108 W McKinnon St
New Brockton, AL

The following information was sourced from businesstown.com.

Accounts Receivable Financing - A loan gained by borrowing against receivables. Loans are paid down as receivables are collected.

Annual Fee - The amount charged by the lender each year to cover the administrative costs of the loan.

Business Credit Card - An amount of money, which a business can borrow against at times it needs capital. Using a card accesses the money.

Commercial Real Estate Loans - Similar to residential mortgages, but collateral is business property. Interest rates are usually fixed, the length of the loan can range from 5 - 20 years and payments due monthly.

Commercial Term Loans - Loans made to businesses that can be either secured and unsecured. Usually made to mid-size and large businesses.

Credit Rating - A predictor of the ability to pay back a loan. The credit rating is a result of credit scoring.

Credit Report - Financial history supplied by a credit information company like Dun and Bradstreet, Equifax, Experian or TransUnion. Contains credit information on a business or an individual, including payment history of bank cards, store cards, mortgages, student loans, and trade payments.

Credit Scoring - The evaluation system used by lending institutions to determine relative credit riskiness of a business or consumer. When evaluating businesses, it generally considers factors such as credit payment history, new credit sought by owner of business, and financial strength and longevity of business.

CreditFYI - A web site for checking business credit reports.

Debt Financing - A loan with pre-agreed terms, including payback schedule and interest.

Dun & Bradstreet - Leading provider of business credit information.

Equifax - One of three leading providers of personal credit information.

Equipment Leases - Leases allowing companies to purchase new equipment.

Experian - One of three leading providers of personal and business credit information.

Fixed Interest Rate - An interest rate that is the same throughout the life of a loan.

Interest Rate - The amount charged by a lender for the money borrowed. It can be fixed or variable.

Inventory Financing - Money borrowed on the basis of finished inventory. The loan is paid as inventory is sold.

Line of Credit - An amount of money, which a business can borrow against at times it needs capital. Often accessed by check, ATM, or business card.

LiveCapital.com - A web site for small business loan offers from a variety of lenders instantly.

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Featured Local Company

SMALL BUSINESS CLINIC OF AL

334-284-3640
PO box 231074
Montgomery, AL
www.cmbcapitalfunding.com

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