Business Loan Glossary Canton MI

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 Canton and want to get started.

Local Companies

Annacore Business Capital
866-767-9723
P.O. Box 701015
Plymouth, MI
Flagstar Bank Banking Centers
(734) 981-6419
39500 Ford Rd
Canton, MI
Wells Fargo Financial
(734) 844-1647
42847 Ford Rd
Canton, MI
Citifinancial
(734) 844-3885
41812 Ford Rd
Canton, MI
Shore Mortgage
(734) 844-8800
1741 N Canton Center Rd
Canton, MI
Advance America Cash Advance
(269) 385-8160
4412 S Westnedge Ave
Kalamazoo, MI
Advance America Cash Advance Centers Inc
(248) 552-8153
29914 Southfield Rd
Southfield, MI
Advance America Cash Advance
(313) 934-2480
15234 Wyoming St
Detroit, MI
Greenstone Farm Credit Services
(906) 786-4487
1801 N Lincoln Rd
Escanaba, MI
Infinity Mortgage Service Inc
(248) 750-0219
24725 W 12 Mile Rd Ste 118
Southfield, MI

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

Annacore Business Capital

866-767-9723
P.O. Box 701015
Plymouth, MI
www.annacorebusinesscapital.com

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