GROUP 3: Advantages and Disadvantages of Raising Finance from Different Sources
A credit-card company( Xuan Anh)
pawnbroker
A Bank ( Sam )
disavantage
advantage
Advantages
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Maintain Your Ownership in The Business
Advantages
Disadvantages
Quick procedure
Convenient
Bank Loans Are Flexible
Credit Improvements
fast
private
sercurity
crime
personal information
Public and transparent documents
Multiple cards can be opened.
need mortgage
Being scammed by a 3rd party
A loan shark
Disadvantages
illegal debt collection
usually illegal
Disvantages
High-Interest Rates
Risk of foreclosure if unable to repay the loan
Erratic rise and fall in interest rates
criminal underworld
Make Large Purchases
A friend or colleague ( Sam )
Loan limit is not high
Advantages
Disvantages
Risking Your Credit Score
Will be flexible
May lend funds interest-free or at a low rate.
Limited Legal Protection.
You will feel highly responsible for any losses they may incur
Damage close relationships.
A member of family
Advantage
easy to be sympathized
enthusiastic attitude
Disadvantage
can cause discord
Longer repayment period
Dương