Adv & Disadv of Loans Flashcards by Reynaldo Silva (V241029) | Brainscape

Q

Advantages of Friends and Family Loan

A

Low Interest Rates
Flexible Repayment Terms

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Q

Advantages of Bank Loan

A

Can borrow a large amount of money
Pay back in instalments that are negotiable

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Q

Disadvantages of Friends and Family Loan

A

Putting relationship at risk
Usually for smaller amounts

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Q

Disadvantages of Bank Loan

A

High Interest Rates
Difficult terms and conditions to apply
Impacts Credit Score

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