Business Loan Glossary Massachusetts

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 Massachusetts and want to get started.

Local Companies

Liberty Bay Credit Union
(617) 439-6500
131 Oliver Street
Boston, MA
Metro Credit Union
(877) 696-3876
200 Revere Beach Parkway
Chelsea, MA
Bank of America
(617) 728-1626
290 Northern Avenue
Boston, MA
Heartland Payment Systems
(508) 657-8332
PO Box 1025
North Framingham, MA
Bay Colony Development Corp.
617-869-0860
1601 Trapelo Road
Waltham, MA
Harvard University Employees Credit Union
(617)4860641
1350 Massachusetts Avenue, Suite 95
Cambridge, MA
Walker Associates, Inc.
(617) 227-4488
2 Oliver Street, Lobby 3
Boston, MA
Citibank, N.A.
617-247-6332
800 Boylston St.
Boston, MA
Lowell Plan the
(978) 459-9899
11 Kearney Sq
Lowell, MA
Commonwealth National Bank
(508) 845-4240
564 Main St
Shrewsbury, MA

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

Liberty Bay Credit Union

(617) 439-6500
131 Oliver Street
Boston, MA

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- Business Loan Glossary Ludlow MA
- Business Loan Glossary Lynn MA
- Business Loan Glossary Malden MA
- Business Loan Glossary Marblehead MA
- Business Loan Glossary Marlborough MA
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- Business Loan Glossary Medford MA
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- Business Loan Glossary Methuen MA
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- Business Loan Glossary Milton MA
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- Business Loan Glossary Needham MA
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- Business Loan Glossary Newton Center MA
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- Business Loan Glossary Randolph MA
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- Business Loan Glossary Saugus MA
- Business Loan Glossary Scituate MA
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- Business Loan Glossary Somerville MA
- Business Loan Glossary South Hadley MA
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- Business Loan Glossary Southbridge MA
- Business Loan Glossary Springfield MA
- Business Loan Glossary Stoneham MA
- Business Loan Glossary Stoughton MA
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- Business Loan Glossary Taunton MA
- Business Loan Glossary Tewksbury MA
- Business Loan Glossary Walpole MA
- Business Loan Glossary Waltham MA
- Business Loan Glossary Watertown MA
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- Business Loan Glossary Westford MA
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- Business Loan Glossary Winthrop MA
- Business Loan Glossary Woburn MA
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