Business Loan Glossary Kentucky

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 Kentucky and want to get started.

Local Companies

Key Credit Corporation
(502) 921-9401
445 Highway 44 E Ste 14
Shepherdsville, KY
Farm Credit Services
(270) 782-3310
5572 Russellville Rd
Bowling Green, KY
Heritage Financial Services Inc
(270) 782-6902
2319 Nashville Rd
Bowling Green, KY
Integra Bank
(859) 567-5071
400 E Main
Warsaw, KY
Premier Payday Loans & Cash Advance
(606) 435-1157
112 Grand Vue Plz
Hazard, KY
Quik Cash
(502) 969-6766
5704 Outer Loop
Louisville, KY
Citizens Bank the
(606) 674-6331
22 E Main St
Owingsville, KY
Pbk Bank
(606) 256-2265
810 Weast Main St
Mount Vernon, KY
Advantage Bank
(606) 324-5138
1640 Carter Ave
Ashland, KY
Check Exchange
(859) 623-1199
805 Eastern Byp
Richmond, KY

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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