Glossary of business loan Terms - A B

Anything of value. Any interest in real or personal property which can be appropriated for the payment of debt.
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A debt or loan that is not collectible and is therefore worthless to the creditor.
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Financial statement presenting measures of the assets, liabilities and owner's equity or net worth of business firm or nonprofit organization as of a specific moment in time.
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The process of moving an unpaid debt or loan from one creditor to another. Credit card issuers sometimes offer teaser rates to encourage balance transfers coming in, and charge balance transfer fees to discourage them from going out.
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Short-term loan to provide temporary financing until more permanent financing is available.  It is available as a personal loan or a business loan.
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Business loans are designed to give a company capital, in the form of a loan, so they can use it where they see fit within their business.  Business loans can come in the form of existing business loans, startup business loans, and small business loans.
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A document that describes an organization's current status and plans for several years into the future. It generally projects future opportunities for the organization and maps the financial, operations, marketing and organizational strategies that will enable the organization to achieve its goals. A business plan will also allow you to assess the size of the first-business loan or start-up business loan that is needed to get the business operational.
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