Business and Consumer Loans Analysis

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What is the main purpose of a consumer loan?

To buy a brand-new car (correct)

To start a business

To have a business expansion

To open a small cafeteria

What is the main purpose of a business loan?

To have a business expansion (correct)

To open a small cafeteria

To buy a brand-new car

To lend money to individuals

What is collateral in the context of loans?

The type of loan (consumer or business)

Assets used to secure the loan (correct)

The interest rate on the loan

A person's monthly income

In which loan type, both consumer and business loans, might require a collateral?

Both Consumer and Business Loans Signup and view all the answers

What is the term of the loan?

The time to pay the entire loan Signup and view all the answers

Which type of loan is specifically for personal or family purposes?

Consumer Loan Signup and view all the answers

Which of the following is a requirement for a consumer loan?

Submission of employee pay slips Signup and view all the answers

What is typically used as collateral for both consumer and business loans?

Real estate or other investments Signup and view all the answers

What type of loan typically has a higher interest rate?

Business loan Signup and view all the answers

In which scenario is a business loan being sought?

Mr. Agustin's plan to have a barbershop Signup and view all the answers

Which type of loan requires the lendee to submit a credit report and income tax returns?

Business loan Signup and view all the answers

Business and Consumer Loans Analysis

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Questions and Answers

What is the main purpose of a consumer loan?

What is the main purpose of a business loan?

What is collateral in the context of loans?

In which loan type, both consumer and business loans, might require a collateral?

What is the term of the loan?

Which type of loan is specifically for personal or family purposes?

Which of the following is a requirement for a consumer loan?

What is typically used as collateral for both consumer and business loans?

What type of loan typically has a higher interest rate?

In which scenario is a business loan being sought?

Which type of loan requires the lendee to submit a credit report and income tax returns?

What is the term for the method of paying a loan (principal and interest) on installment basis?

What is defined as assets used to secure the loan?

What is a mortgage on a movable property called?

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