Glossary

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B

 

Bad Credit
A negative credit rating is often considered undesirable to lenders and other extenders of credit for the purposes of loaning money or capital.

 

Bad Credit Loans
A sub-prime loan is a loan offered to people with bad credit at an interest rate that is above the "prime" interest rate.

 

Bankruptcy
A proceeding in a federal court in which an insolvent debtor's assets are liquidated and the debtor is relieved of further liability. Chapter 7 of the Bankruptcy Reform Act deals with liquidation, while Chapter 11 deals with reorganization.

 

Bill Consolidation(s)
Turn a lot of bill payments into one easy-to-make monthly payment. A bill consolidation loan helps simplify all your bill payments and help organize your personal finances.

 

Bridge Loans
B bridge loan is a short-term loan that is used until a person or company can arrange a more comprehensive longer-term financing. The need for a bridge loan arises when a company runs out of cash before it can obtain more capital investment through long-term debt or equity.

 

Broker
One that acts as an agent for others, as in negotiating contracts, purchases, or sales in return for a fee or commission.

 

Broker Funding
Broker that provides financing on behalf of a principal.