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NO MONEY CONVENIENCE
Credit Facilities
Government
CREDIT
The ability to obtain a thing of value in exchange for a promise to pay with money or something equally satisfactory to the seller at some future time CHARACTERISTIC OF CREDIT
POWER
OBLIGATION
ACCORDING TO TYPE CONSUMER CREDIT RETAIL CREDIT CHARGE ACCOUNT INSTALLMENT CREDIT CREDIT CARD
Cash price or delivered price of property and services acquired The amount to be credited as down-payment The difference between the amount set forth under clauses 1 and 2. The charges, individually itemized The total amount to be financed The finance charge in pesos and centavos The percentage that the finance charge bears to the total amount to be financed.
BORROWING MONEY
EXAMPLE: BANKS, COOPERATIVES, PAWNSHOP
ACCORDING TO PURPOSE AGRICULTURAL CREDIT COMMODITY LOANS EXPORT CREDIT INDUSTRIAL CREDIT COMMERCIAL CREDIT REAL ESTATE CREDIT
ACCORDING TO MATURITY
SHORT TERM CREDIT Payable within one year from date of acquisition. Purchase of consumer goods, character loan MEDIUM OR INTERMEDIATE TERM CREDIT Its maturity ranges from 1 to 5 years. For financing improvements on firm, e.g. Installment buying LONG TERM CREDIT intended for 5 years and beyond; intended for investment purposes, plant, machineries,buildings.
Sources of credits
Individual Money Lenders Retail Stores Pawnshops Commercial Banks Commercial Paper House Savings Bank Rural Banks Development Banks Investment Banks Savings and Loan Associations Finance Companies Credit Unions Insurance Companies GSIS SSS AFPSLAI PAG-IBIG
The C s of Credit
The C s of Credit
The C s of Credit
CONFIDENCE
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