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Foundations of Business - Standalo...

4th Edition
William M. Pride + 2 others
ISBN: 9781285193946

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BuyFindarrow_forward

Foundations of Business - Standalo...

4th Edition
William M. Pride + 2 others
ISBN: 9781285193946
Textbook Problem

Why would a lender offer unsecured short-term loans when it could demand collateral?

Summary Introduction

To determine: The reasons on why a lender offer unsecured short-term loans when it could demand collateral.

Introduction: Loans allude to when a party offers cash to another depending on the prerequisite that it be paid back, ordinarily with interest, at a specific time later on.

Explanation

The reasons on why a lender offer unsecured short-term loans when it could demand collateral are as follows:

A lender would offer unsecured short term loans to suit small organizations that do not have insurance, are simply beginning, or would go under without a loan...

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