Online payment processing, daily collection, small loan collection by Websoftex SoftwareDevelopment

TERM LOANS BRIEF INTRODUCTION

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INTRODUCTION Standard loans and lines of credit represent two different methods of borrowing money for both businesses and individuals. Typical loans might include mortgages, student loans, auto loans or personal loans these are one-time, lump-sum extensions of credit that tend to be paid down through Click here to download this powerpoint template : Colorful Pastel Tree Powerpoint Template For more templates : PPT Backgrounds Models periodic, consistent installments. Others ressources : Abstract Free PPT Presentations Nature Powerpoint Templates Tree Powerpoint Presentations Backgrounds Download Powerpoint Background with halo effect

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INTRODUCTION Lines of credit are usually seen with business lines of credit or home equity lines of credit (HELOCs); a borrowing limit is extended to a consumer, and funds can be borrowed again later after the money is repaid. There are sometimes non-revolving lines of Click here to download this powerpoint template : Colorful Pastel Tree Powerpoint Template credit, most do not For morebut templates : PPT Backgrounds Models have an "end date." Others ressources : Abstract Free PPT Presentations Nature Powerpoint Templates Tree Powerpoint Presentations Backgrounds Download Powerpoint Background with halo effect

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LOAN V/s Credit  Bigger-ticket debts such as a house or car tend to be made through standard loans.  Standard loans are more likely to be secured against an asset.  Lines of credit tend to have higher rates ofClickinterest andtemplate smaller minimum here to download this powerpoint : Colorful Pastel Tree Powerpoint Template For more templates : PPT Backgrounds Models Others ressources :payment amounts. Abstract Free PPT Presentations Nature Powerpoint Templates Tree Powerpoint Presentations Backgrounds Download Powerpoint Background with halo effect

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LOAN V/s Credit ď ą Lines of credit usually create more immediate, larger impacts on consumer credit reports and credit scores. ď ą Closing costs, if any, are higher for loans than lines of credit on average.

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Why Loans?  When you need to borrow money to start or expand your business, or if you just need to get a loan for other purposes, you have several options.  Two of the most common options for acquiring funding are term loans and lines of credit.  It is important to know the difference between the two, as well as their pros and cons, so that Click here to download this powerpoint template : Colorful Pastel Tree Powerpoint Template you can make an informed decision and choose For more templates : PPT Backgrounds Models Others ressources : the best option for your needs. Abstract Free PPT Presentations Nature Powerpoint Templates Tree Powerpoint Presentations Backgrounds Download Powerpoint Background with halo effect

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TERM LOAN  A term loan is a lump-sum extension of funds that you pay back in installments on a regularly defined schedule (or “term”), plus interest.  When utilized for a small business, they are also commonly referred to as small business loans.  However, term loans might also be used for a mortgage, auto loan, student loans and other Click here to download this powerpoint template : Colorful Pastel Tree Powerpoint Template situations inBackgrounds which you might need to borrow a For more templates : PPT Models Others ressources : large sum cash. Abstract of Free PPT Presentations Nature Powerpoint Templates Tree Powerpoint Presentations Backgrounds Download Powerpoint Background with halo effect

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LINE OF CREDIT ď ą A line of credit is an offer to extend funds to an individual or business that can be drawn down at a later date ď ą Lines of credit for small businesses are somewhat similar to a credit card, except that they typically have a much higher limit and can be taken in cash rather than at a point of sale. Click here to download this powerpoint template : Colorful Pastel Tree Powerpoint Template For more templates : PPT Backgrounds Models Others ressources : Abstract Free PPT Presentations Nature Powerpoint Templates Tree Powerpoint Presentations Backgrounds Download Powerpoint Background with halo effect

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LINE OF CREDIT V/S TERM LOANS  Aside from what was defined above, other differences exist between the two borrowing options that you might want to consider before you make a choice.  Standard term loans or small business loans give you one lump payment which you repay over a predefined term Click here to download this powerpoint template : Colorful Pastel Tree Powerpoint Template For more templates : PPT Backgrounds Models Others ressources : Abstract Free PPT Presentations Nature Powerpoint Templates Tree Powerpoint Presentations Backgrounds Download Powerpoint Background with halo effect

 funds related to lines of credit are typically “revolving” Page 9

LINE OF CREDIT V/S TERM LOANS Term loans usually grant much larger amounts than lines of credit. Term loans are usually secured against assets or collateral. The funds for a term loans are transferred to Click here to download this powerpoint template : Colorful Pastel Tree Powerpoint Template more templates : PPTat Backgrounds the For borrower theModels time of contract Others ressources : Abstract Free PPT Presentations Nature Powerpoint Templates Tree Powerpoint Presentations Backgrounds Download Powerpoint Background with halo effect

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TERM LOAN PRO’S AND CON’S  You have access to the funds immediately.  Term loans usually grant very high amounts.  Interest rates tend to be lower than a Click here to download this powerpoint template : Colorful Pastel Tree Powerpoint Template For more templates : PPT Backgrounds Models comparable line of credit. Others ressources : Abstract Free PPT Presentations Nature Powerpoint Templates Tree Powerpoint Presentations Backgrounds Download Powerpoint Background with halo effect

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TERM LOAN PRO’S AND CON’S  The approval and lengthy.

process

can

tedious

 Interest begins accruing immediately.  You typically the loan.

need

specific

purpose

for

 Closing costs can be high.

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Lines of Credit PRO’S AND CON’S  Lines of credit are easier to get.  They are a more flexible option, ideal for emergency funds or working capital.  You don’t begin accruing interest until you use the credit to make a purchase. Click here to download this powerpoint template : Colorful Pastel Tree Powerpoint Template For more templates : PPT Backgrounds Models Others ressources : Abstract Free PPT Presentations Nature Powerpoint Templates Tree Powerpoint Presentations Backgrounds Download Powerpoint Background with halo effect

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Lines of Credit PRO’S AND CON’S  Repayment terms are shorter.  Interest rates tend comparable term loan.

higher

than

 They typically come with terms and conditions for continued access and can be easily revoked if you fail to comply. Click here to download this powerpoint template : Colorful Pastel Tree Powerpoint Template For more templates : PPT Backgrounds Models Others ressources : Abstract Free PPT Presentations Nature Powerpoint Templates Tree Powerpoint Presentations Backgrounds Download Powerpoint Background with halo effect

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