It’s a cash loan granted to an employed, currently – paying self-employed or voluntary member. It is intended to meet the member’s short-term credit needs.

Fill in the Blank QuestionFill in the blank question.Line of is a short-term loan that is approved before money is actually needed.

Refers to a lump sum of money that a borrower borrows from a bank and agrees to repay over a specific period of time.

It is a loan taken at a certain rate of interest for a definite time period and repaid on maturity.a.Bondsb.Notes payablec.Interest payabled.Taxes payable

This is the finance paid for in installments by the business. The item is not owned until all payment has been made.

It is used as an alternative to bank borrowing for large and creditworthy companies,Answer choicesSelect only one optionREVISITCommercial papersTreasury billDebenturesCall money