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Topic: Small Business Loans
Vocabulary:
lump-sum: (n.) a single payment, as opposed to a number of smaller payments
repossess: (v.) retake possession of something when a buyer fails to make payments
personal liability: (n.) a person is held personally responsible for repaying a loan, rather than one’s business itself.
Part 1b: Appropriate uses of a loan
Part 2: Types of loans (Video)
Vocabulary:
consignment store: (n.) a store that sells second-half items on behalf of the original owner, who receives a percentage of the selling price
accounts receivable: (n.) money owed to a company by customers or other entities.
