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sources of finance - Coggle Diagram

- - - - disadvantages
        
        interest is charged
        
        equipment isn't owned until last payment is completed
      - advantages
        
        expensive assets can be paid over time
  - - - advantages
        
        long term
        
        can be arranged quickly
        
        repaid over a long period of time
      - disadvantages
        
        interest is added to the payemnt
  - - - advantages
        
        can be done quickly
      - disadvantages
        
        very short term meaning high interest rates
        
        only for small sums of money
  - - - disadvantages
        
        if payments are missed property can be seized
        
        interest is added on the loan
      - advantages
        
        paid over a long period of time
        
        can be large sums of money borrowed at once
- - - - advanatges
        
        money comes quick and easily
      - disadvantages
        
        very short term
        
        only a finite amount of assets to sell
  - - - advantages
        
        doesn't need to be repaid
      - disadvantages
        
        takes a long time to build up profits and other opportunities could have been missed (opportunity cost)
  - - - doesn't need to be paid back
    - - personal savings are at risk and can be lost if business is unsuccessful