Notes 3 Flashcards
The right to take your possession of collateral until a debt is repaid.
Lien
A special type of corporation where individual owners (or members) are taxed on the profits of the company, but the corporation (not the members) is liable for debts or judgments against the company.
Limited Liability Corporation (LLC)
A loan that provides the borrower a maximum amount of money he/she can borrow.
Line of Credit
Cash or securities that can be immediately turned into cash, which can then repay any loan amount outstanding.
Liquid Assets
The state agency that collects state taxes.
Louisiana Department of Revenue
How a business communicates to large numbers of customers, motivating them to learn more about the business and its offerings.
Marketing
The date a loan is repaid in full.
Maturity
A person who coaches and supports an entrepreneur or a student studying to become an entrepreneur.
Mentor
The money a person borrows to buy real estate.
Mortgage
An investment security that includes many different stocks purchased and held together.
Mutual Fund
Means revenues after costs.
Net Income
A payment that is owed every month.
Obligation
Debt obtained from a number of online companies.
Online Credit
When a company issues a check or makes a financial commitment for an amount greater than the amount the company has deposited in the bank. “bounced check”
Overdraft
Owning an asset without any associated debt.
Own “Free and Clear”
