A __________is a type of loan made to a business by a commercial bank. This type of loan is madewhen the borrower needs additional funds for a short period but does not believe the need willcontinue or reoccur on a seasonal basis.
A) revolving credit agreement
B) short-term self-liquidating loan
C) single payment note
D) line of credit

Question

Quizplus · Accepted Answer

A single payment note is a type of loan where the borrower receives the funds and agrees to repay the entire amount, plus interest, in one lump sum at a specified future date, typically used for short-term funding needs.

A __________Is a Type of Loan Made to a Business