Business and Consumer Loans Analysis

What is the main purpose of a consumer loan?

To buy a brand-new car

What is the main purpose of a business loan?

To have a business expansion

What is collateral in the context of loans?

Assets used to secure the loan

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

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

Amortization Signup and view all the answers

What is defined as assets used to secure the loan?

Collateral Signup and view all the answers

What is a mortgage on a movable property called?

Chattel Mortgage Signup and view all the answers

Business and Consumer Loans Analysis

Questions and Answers