If a Technopreneur obtains a commercial bank loan to finance a new venture, s/he is often required to*1 pointprovide collateral.close savings accounts.relinquish contracts.All of the above
Question
If a Technopreneur obtains a commercial bank loan to finance a new venture, s/he is often required to*1 pointprovide collateral.close savings accounts.relinquish contracts.All of the above
Solution
The correct answer is "provide collateral." When a Technopreneur or any business owner obtains a commercial bank loan, they are often required to provide collateral. Collateral is an asset or property that a borrower offers to a lender to secure a loan. If the borrower fails to pay the loan, the lender has the right to take the collateral. Closing savings accounts or relinquishing contracts are not typically requirements for obtaining a commercial bank loan.
Similar Questions
Venture capital firms provide debt funding so the entrepreneur will not have to give up equity.Group of answer choicesTrueFalse
Many firms that need funds borrow from financial institutions or individuals called: A. debtors. B. creditors. C. collateral. D. joint ventures. E. investors.
Venture Capital are companies/firms that loan you money based on your business plan.Group of answer choicesTrueFalse
Which source of funding uses technology platforms to invite consumers to invest small amounts in support of a business idea or venture?Bank loanCrowdsourcingVenture capitalAngel investment
What is the primary source of funding for startups from venture capital firms?Bank loansEquity investmentCrowdfundingGovernment grants
Upgrade your grade with Knowee
Get personalized homework help. Review tough concepts in more detail, or go deeper into your topic by exploring other relevant questions.