micro-enterprise pt. 3 Flashcards
right to tale possession of collateral until a debt is repaid
lien
special type of corp where indiv. owners (/ members) r taxed on the profits of the comp. but the corp. (not the members) is liable for debt/ judgement against the comp.
limit liability corporation( LLC)
loan the provides the borrower a maximum amount of money he/she can borrow- borrower can access/ use that line of credit for only as much money they need @ any particular time
line of credit
cash/ securities that can be be immediately turned into cash , which can they repay any loan amount outstanding.
liquid assets
state agency that collects taxes
Louisiana dept. of Revenue
how a business communicates to large #s of customers, motivating them to learn more about the business & its offerings
marketing
person who coaches & supports an entrepreneur / a student studying to become an entrepreneur
mentor
date a loan is repaid in full
maturity
money a person borrows to buy real estate
mortage
investment security that includes many different stocks purchased & held together . Investors purchase mutual funds bc they r less risky than holding any indiv stocks
mutual fund
” net” means revenues after cost
net income
payment that is owed every month
obligation
debt obtained from a # of online comps. borrowers need to disclose much less info about themselves to obtain credit, & online credit comps make credit decisions much more quickly than banks. online credit is more expensive for borrowers than bank loans
online credit
when a comp issues a check make a financial commitment for an amount greater than than the amount the comp has deposited in the bank. “bounced check”
overdraft
cost that has a busi. incurs r not part of producing the goods/ services it sells, but which r required to operate legally & officially
overhead
