Slides in this set
This involves going to the bank and asking for a loan.
The loan is paid back over time with interest.
Multiple loan options
Non profit sharing
Lower rates of interest
Lengthy application process
Can be biased
Many terms and conditions
Risk of losing your own things(eg house)
Might not get all the money you want…read more
Drawing more money out of your account than you
Quick to arrange
Pay an arrangement fee
Crazy interest rates
If you don't use it, it may be reduced…read more
Friends and family
Getting a loan from friends or family. This could be
an informal arrangement.
May be cheap or even free
Could spoil relationships
Depends on availability
Could spark legal issues…read more
A sum of money given by the government or an
organisation for a fitted purpose.
Often with added support
Don't need to be repaid
Good ethical boost
Often difficult to qualify
Might not get all the money you need
Might have to pay them back…read more