This type of Loan is offered to borrower to start their business and can be used to build a storefront, to acquire inventory or pay franchise fees to get a business rolling.
You can access the account as the saving account but, unlike saving account, you cannot earn interest on this account. The benefit of this account is that there is no limit for withdrawal.
It is a process of managing money, including investments, banking, budgeting and taxes.
A pay-day loan is generally, a small amount and a short-term loan available at high interest rate. A borrower normally writes post-dated cheques to the lender in respect to the amount they wish to borrow.
Credit management system is a system for handling credit accounts, assessing risks and determining how much credit to offer to the customer.
Financial management system is used to govern and keep a record of its income, expense and assets and to keep the accountability of its profit.
When a loan is charged with high interest rate illegally then it is referred as 'Usury'. Usury rates are generally set by State Law.
The database collects all the information and keeps the track about the customers who borrows the money.
It is a small to mid-sized branch that directly deals with consumer's transaction rather than corporate or other banks