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Essay / Research Paper Abstract
This 3 page paper looks at a credit line product aimed at small businesses, which is available from an international bank, outlines the product itself and then looking at how the sales and marketing takes place. The bibliography cites 3 sources.
Page Count:
3 pages (~225 words per page)
File: TS14_TEloanHSBC.rtf
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Unformatted sample text from the term paper:
that offer a credit line to small businesses. These include short to medium term loans, which are offer on both secured and an unsecured basis, as well as revolving credit
facilities and overdrafts. The business loans offered to small businesses are usually offered on varying amounts for periods between one and ten years, although longer term loans do exist.
The standard small business loan will be repayable in equal monthly instalments over the period of the loan. The usual loan will have a fixed rate of interest, which is
added onto the balance of the loan on a month basis; with part of each payment paying the interest accumulated that month and the reaming amount reducing the outstanding capital
balance. This means that in the early months/years the largest part of the repayment may be interest, and as time goes by an increasing proportion of the payment will be
capital (Howells and Bain, 2007). The way on which the loan may be granted will be following an assessment of the income that the business is generating, based on
past accounts, as well as consideration of the credit history of the business and/or the business owner. If the business is new then the loan may need to be made
to the new business owner, or guaranteed by the owners. If the business does not meet the required criteria the bank may offer the loan on a secured basis, meaning
that the loan is secured against assets and if there is a default there is some for of recourse for the bank, For example, the business loan may be secured
against the home of the business owner, allowing for the bank to repossess or foreclose on the home if the loan is not repaid. The ability for the bank to
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