Question

How is a loan obtained through a partnership?

a) The borrower writes a postdated check in exchange for cash.
b) A personal item is given as collateral for a loan.
c) A valuable item is sold for cash.
d) The borrower exchanges their payback for cash.

Answer 1

A loan obtained through a partnership typically involves providing information about income sources, credit checks, and potentially requiring collateral or a co-signer.

Step-by-step explanation:

In the financial capital market, a loan obtained through a partnership typically involves filling out forms regarding income sources and undergoing a credit check. Additionally, the lender may require a co-signer or collateral as a guarantee of repayment.

For example, if two partners are starting a business together and need a loan, they would approach a lender who would evaluate their income sources, credit history, and potentially require collateral or a co-signer. The lender would then provide the loan based on these factors.

In summary, a loan obtained through a partnership typically involves providing information about income sources, credit checks, and potentially requiring collateral or a co-signer.