A loan is a type of debt. This article focuses exclusively on monetary loans, although in practice, any material object might be lent. Like all debt instruments, a loan is the redistribution of financial assets over time between the creditor and the debtor.
The borrower initially receives an amount of money from the lender, which they return, usually but not always in regular installments, to the lender. This service is generally provided at cost, which are referred to as interest on debt. A loan is the type of annuity, if the amount paid periodically (for repayment and interest together) is fixed.
A debtor may be subject to certain restrictions known as loan covenants of credit agreements.
It acts as a provider of loans is one of the principal tasks for financial institutions. For other institutions, issuing of debt contracts such as bonds is a typical source of funding.
Tuesday, February 3, 2009
Thursday, January 29, 2009
FAC Wins Bermuda Innovation Award
First Atlantic Commerce wins Bermuda Government's Coveted Innovation of the Year Technology Award
FAC honored for creatively using technology as a tool to innovate the e-commerce industry
Hamilton, Bermuda. April 30, 2008. First Atlantic Commerce Ltd. (FAC), a leading international, multi-currency payment and risk management solutions provider, last week won the Bermuda Governments Ministry of Telecommunications & E-Commerces Innovation of the Year award for FACs online Consumer Authentication solutions.
Organizations across the world-class, offshore financial centres private, public and non-profit sectors that are creatively using technology as a tool to innovate in their designated industry were nominated under various categories including: Best Interactive Experience, Best Local Website, Most Inspiring Technology Teacher, Best Business Solution Using Technology, Best Customer Service, Technology in the Environment, Most Innovative Sponsor and top category Innovation of the Year.
Bermudas Telecommunications and E-Commerce Minister, the Hon. Terry E. Lister, and Dion Tucker, Vice President of Information Technology for event sponsor and insurance/reinsurance giant, RenaissanceRe, presented the crystal trophy award for Innovation of the Year to FAC CEO, Andrea Wilson at the TechAwards luncheon held on Friday, April 25, 2008 at the Fairmont Hamilton Princess.
Based on criteria including a truly innovative technology solution that is commercially in use in Bermuda and utilizing Bermuda-based infrastructure and/or resources, the winning companys innovation had to be a true showcase piece for the Island, according to the panel judges representing both Bermudas private and Government sectors.
FACs innovation involved implementing a unique standalone Verified by Visa and MasterCard SecureCode cardholder "authentication-only" solution designed for the burgeoning Mexican online business market including airlines, hotels and large retailers.
FAC honored for creatively using technology as a tool to innovate the e-commerce industry
Hamilton, Bermuda. April 30, 2008. First Atlantic Commerce Ltd. (FAC), a leading international, multi-currency payment and risk management solutions provider, last week won the Bermuda Governments Ministry of Telecommunications & E-Commerces Innovation of the Year award for FACs online Consumer Authentication solutions.
Organizations across the world-class, offshore financial centres private, public and non-profit sectors that are creatively using technology as a tool to innovate in their designated industry were nominated under various categories including: Best Interactive Experience, Best Local Website, Most Inspiring Technology Teacher, Best Business Solution Using Technology, Best Customer Service, Technology in the Environment, Most Innovative Sponsor and top category Innovation of the Year.
Bermudas Telecommunications and E-Commerce Minister, the Hon. Terry E. Lister, and Dion Tucker, Vice President of Information Technology for event sponsor and insurance/reinsurance giant, RenaissanceRe, presented the crystal trophy award for Innovation of the Year to FAC CEO, Andrea Wilson at the TechAwards luncheon held on Friday, April 25, 2008 at the Fairmont Hamilton Princess.
Based on criteria including a truly innovative technology solution that is commercially in use in Bermuda and utilizing Bermuda-based infrastructure and/or resources, the winning companys innovation had to be a true showcase piece for the Island, according to the panel judges representing both Bermudas private and Government sectors.
FACs innovation involved implementing a unique standalone Verified by Visa and MasterCard SecureCode cardholder "authentication-only" solution designed for the burgeoning Mexican online business market including airlines, hotels and large retailers.
Business Credits-The Best Financing For Your Business
The business credit is one of the most popular form of business loans. The noticeable feature of business credit is that, it is easier to get a business credit than any other forms of business loans. The added advantage of the business credit is that they are available even for businesses that have not been in business for a long time.
A business line of credit can be used for short term cash flow management, to make special or seasonal purchases, to re-stock inventory or supplies or for just about any other reason that can satisfy the banks demand for its usefulness to the business. A business line of credit is not normally made available to pay for salaries or bonuses to the employees of a business or to repay creditors from other banking arrangements. The business credit comes in handy for small businesses that are in the starting line up. These business credits help the businessmen to expand their business in to a huge enterprise in the future.
There are several ways today to get the business credit. The common method is to approach a bank or credit union where you already do your business banking. They know you, not just from seeing your face as you make deposits or withdrawals but they also know your personal credit history and this becomes an important factor in granting a business line of credit. Banks are most comfortable lending money to customers that they already know than the off the street business. This will help you not only get the business line of credit that your business may need but also help you get the best possible interest rate for your hard earned business dollar.
Some firms like ‘the New Way Group’ provide short term and long term financing solutions to small business entrepreneurs. Regardless the type or size of the business, getting a business credit is made much easier through these firms. Unlike these firms who do not claim many documents for granting a business credit, a bank usually requires a business to have been in operation for a minimum of two years before granting a business line of credit. That is because the likelihood of a business failing within the first two years is far greater than at any period in its term of operation. Once a business passes this threshold a bank is much more likely to consider a business as a candidate for loans or lines of credit.
Having a small business can be a challenge, especially I a long run, when it comes to having enough money to suit your needs. But having a business credit can greatly help you and your business get off to the start they deserve.
A business line of credit can be used for short term cash flow management, to make special or seasonal purchases, to re-stock inventory or supplies or for just about any other reason that can satisfy the banks demand for its usefulness to the business. A business line of credit is not normally made available to pay for salaries or bonuses to the employees of a business or to repay creditors from other banking arrangements. The business credit comes in handy for small businesses that are in the starting line up. These business credits help the businessmen to expand their business in to a huge enterprise in the future.
There are several ways today to get the business credit. The common method is to approach a bank or credit union where you already do your business banking. They know you, not just from seeing your face as you make deposits or withdrawals but they also know your personal credit history and this becomes an important factor in granting a business line of credit. Banks are most comfortable lending money to customers that they already know than the off the street business. This will help you not only get the business line of credit that your business may need but also help you get the best possible interest rate for your hard earned business dollar.
Some firms like ‘the New Way Group’ provide short term and long term financing solutions to small business entrepreneurs. Regardless the type or size of the business, getting a business credit is made much easier through these firms. Unlike these firms who do not claim many documents for granting a business credit, a bank usually requires a business to have been in operation for a minimum of two years before granting a business line of credit. That is because the likelihood of a business failing within the first two years is far greater than at any period in its term of operation. Once a business passes this threshold a bank is much more likely to consider a business as a candidate for loans or lines of credit.
Having a small business can be a challenge, especially I a long run, when it comes to having enough money to suit your needs. But having a business credit can greatly help you and your business get off to the start they deserve.
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