Long Term Debt – Financing used to purchase or improve assets such as plant, facilities, large equipment and real estate.

Maturity – A loan’s maturity is the life of the loan; that is, how long you have to repay the loan. It usually applies to term loans and not lines of credit.

Multi-Lender Environment – Numerous lending institution sharing the same site and information to provide instant financing to small businesses.

Personal Guarantee -A guarantee that the primary owner will assume personal responsibility for repayment of the loan, should the company not repay the loan.

Prime Rate – The rate a lender charges its best customers. The rate is calculated differently by each lender.

Revolving Credit – It is the same thing as a line of credit: an amount of money, which a business can borrow against at times it needs capital. Often accessed by check, ATM, or business card.

SBA Loan – Loans to small businesses unable to secure financing on reasonable terms through normal lending channels. The program operates through private-sector lenders that provide loans, which are guaranteed by the Small Business Administration (SBA) — the SBA has no funds for direct lending or grants.

Secured Loan – A loan secured by specific collateral. Creditor may foreclose and seize the specific property that is collateral to satisfy an unpaid secure loan.

Small Business Administration -Established by Congress, the SBA provides financial, technical and management assistance to help Americans start, run, and grow their businesses.

Short Term Debt – Financing used to secure cash for accounts payable and inventory.

Subsequent Draw Fee – It’s a fee that the financial institution may charge each time you use the line of credit after the initial use.

Term Loan – A loan for a specific amount of money. It has either have a fixed or variable interest rate, matures in between one and ten years and has a set repayment schedule.

TransUnion Corporation – One of three leading providers of personal credit information.

Unsecured Loan – A loan granted upon the good credit of the borrower. No collateral involved.

Variable Interest Rate – An interest rate that changes during the life of a loan.