Question

What type of credit should i use to build and additional office space?

•installment credit • secured creditcard • service credit card • or unsecured credit card ;-;-;-;-;-;-;; pls i’m dying

Answer 1

•installment credit

Step-by-step explanation:

Installment credit is a type of loan when the amount borrowed is fixed and repaid in the stated period. Installment loans are repaid in fixed monthly installments. The amount for each monthly installment is determined at the loan application stage.

Each installment payment reduces the loan balance. The last repayment clears the entire loan. Additional office space is a capital expenditure and requires a huge amount of money. An installment loan from a lending institution is the best option to finance such a project. The amount involved cannot be granted via a credit card. Again credit card loans have very high-interest rates compared to an installment loan.