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Bank Loan
This involves going to the bank and asking for a loan.
The loan is paid back over time with interest.
Pros
Convenient
Multiple loan options
Non profit sharing
Lower rates of interest
Tax benefits
Cons
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

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Overdraft
Drawing more money out of your account than you
actually have
Pros
Flexible
Provides backup
Quick to arrange
Cons
Pay an arrangement fee
Crazy interest rates
If you don't use it, it may be reduced…read more

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Mortgage
A loan to finance the purchase of an assets(usually a
house) which has fixed terms.
Pros
Low interest
Regular payments
Lump sum
Cons
Secured against an asset
Repayments may be high…read more

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Friends and family
Getting a loan from friends or family. This could be
an informal arrangement.
Pros
Flexible
May be cheap or even free
Easily negotiable
Cons
Could spoil relationships
Depends on availability
Could spark legal issues…read more

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Grants
A sum of money given by the government or an
organisation for a fitted purpose.
Pros
Often with added support
Don't need to be repaid
Good ethical boost
Cons
Often difficult to qualify
Might not get all the money you need
Might have to pay them back…read more

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