Please enable JavaScript.
Coggle requires JavaScript to display documents.
UNIT 9: RAISING FINANCE: The advantages and disadvantages of borrowing…
UNIT 9: RAISING FINANCE: The advantages and disadvantages of borrowing money from different sources
A bank (Nguyễn Tuấn Vũ)
Advantages:
Disadvantages: Rate of interest, must pay true timeout
A credit-card company (Lê Phạm Bảo Nhi)
Advantages: Improving your credit score, buying now to pay later, spreading purchases out, having purchase protection, Interest-free spending, getting cashback, benefits and rewards, cutting down your debt
Disadvantages: The possibility of debt, your credit score, fees, and charges, limited usage
A member of your family (Lê Văn Tùng Dương)
Advantages: Fast and no collateral required.
Disadvantages: Limited funding depending on lender conditions
A pawn broker (Nguyễn Quang Dũng)
Advantages: get a high profit, without having to spend time on other administrative procedures. Fast and convenient for both pawnbrokers as well as pawnbrokers, no need to go through credit checks
Disadvantages: the source of loans is expensive, sometimes the items will be risky when it is possible that they are the items obtained from illegal work and then it will affect the pawn broker when the item will be stolen. Confiscated and the pawn broker will lose the entire amount given to the holder of the item. In addition, with items of unknown origin, the pawn broker will be subject to handling by the competent authorities.
A loan shark (Lê Văn Tùng Dương)
Advantages: Easy loan without collateral, quick procedure.
Disadvantages: High interest rates, debtors will be harassed when they are no longer able to repay interest.
A friend or colleague (Nguyễn Tuấn Vũ)
Advantages: No Equation, can trust
Disadvantages: Ruin the relationship if the loan is not repaid
Quickly, doesn't involve other people