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“Loan covenants are agreements outlining specific conditions the borrower must meet during the loan term. If you’re an entrepreneur obtaining a business loan, you really need to think methodically about the loan covenant.”
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“Revolving credit lines allow businesses to borrow, repay, and re-borrow within a specified limit. In terms of managing a business’s cash flow, utilizing revolving credit lines may be a great way to go.”
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“Corporate loans can be short-term or long-term, depending on the business's needs. Each business’s leaders should think very methodically about future revenue projections and macro conditions, among other things.”
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“Interest rates on corporate loans can be fixed or variable, depending on the agreement. And depending on the length of the loan, whether it’s fixed or variable can have a significant impact on the risk profile of the loan.”
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“Collateral, such as assets or property, may be required to secure the loan. So as an entrepreneur, it’s something to consider – it’s going to be a good idea to consider what part of your business’s assets can be collateralized, to what extent, and with how much ease.”
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Danielle’s 2024 Year in Books
Take a look at Danielle’s Year in Books, including some fun facts about their reading.
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