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Words: 1,611 | Submitted: Mon Nov 19 2007
... be given back. Mortgage - This is a loan you take out to buy property. Most banks and building socialites offer mortgages, as well as specialist's mortgage lending companies. If you change lenders but do not move business it's referred as a remortgage. This can be taken out of any bank and will be paid back with interest and will last for sometime up to 25 years or even more and the money lending will be depending on income. Your business can be repossessed if you don't keep up with repayments with your mortgage and this is in the contract and is signed for. Trade credit - is interest free in most cases. A small business buys stock from a supplier but pays for it in 30 days time but if it is not paid then the supplier will not allow the trade credit again and also interest might be ...
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