Business Loan Glossary Boiling Springs SC

Here you will find business loan glossary terms.

Local Companies

First Palmetto Savings Bank
(803) 438-6236
2480 Main St Elgin
Lugoff, SC
First Federal
(843) 761-8206
206 E Main St
Moncks Corner, SC
Peoples Federal
(843) 272-5367
1515 Highway 17 S
Surfside Beach, SC
Peoples Federal
(843) 238-5144
Highway 17 S
Myrtle Beach, SC
First Palmetto Savings Bank
(843) 329-2265
1636 N Highway 17
Mount Pleasant, SC
Peoples Federal
(843) 248-7550
Conway, SC
Peoples Federal
(843) 692-0660
Myrtle Beach, SC
Pee Dee Federal Savings Bank
(843) 464-8216
209 W McIntyre St
Mullins, SC
First Federal
(843) 249-6755
606 Main St
North Myrtle Beach, SC
Peoples Federal
(843) 449-7405
Myrtle Beach, SC


Business Loan Glossary

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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