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SHORT TERM FINANCING
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- 2016 год
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SHORT TERM FINANCING
The seasonal financial needs of a company may be covered by short term sources of funds. The company must pay them off within one year. Businesses spend these funds on salaries and for emergencies. The most popular outside sources of short term funds are trade credit, loans, factors, sales finance companies, and government sources.
About 85 percent of all US business transactions involve some form of trade credit. When a business orders goods and services, it doesn't normally pay for them. The supplier provides them with an invoice requesting payment within a settled time period, say thirty days. During this time the buyer uses goods and services without paying for them.
A company can use the trade credit as a source of savings. A typical trade arrangement is 2/10, net 30. If a buyer pays within 10 days instead of 30, he gets a 2 percent discount. The savings a buyer obtains can be used as a source of short term funds.
Commercial banks lend money to their customers by direct loans or by setting up lines of credit. A line of credit is the amount a customer can borrow without making a new request, simply by notifying the bank. If the business doesn't pledge collateral when it borrows, the loan is an unsecured loan. Only customers with an excellent credit rating can get an unsecured loan. They usually repay it within a year's time. When a company wants to borrow a large amount of money it pledges collateral to back up the loan. Such a loan is a secured one.
Sometimes a company might sell its accounts receivable to a special financial broker: a factoring company, a factor. The factor immediately pays the firm cash, usually 50 to 80 percent of the value of the accounts receivable. When customers make the payments on their accounts, the money goes directly to the factor.
Some big firms obtain funds by selling commercial paper. Because commercial paper has no collateral behind it, only firms with a good financial reputation can sell it. In special cases, a business may obtain short term funds from the federal government.
I. Answer the following questions:
1. How can a company cover its seasonal financial needs?
2. What do the companies spend short term funds on?
3. What are the most popular outside sources of short term funds?
4. How much of all business arrangements does trade credit involve in the USA?
5. How do the companies arrange trade credit?
6. How do firms build up savings by using trade credit?
7. How do commercial banks lend short term funds to their customers?
8. What is a line of credit?
9. What is the difference between a secured loan and an unsecured one?
10. Which customers usually get unsecured loans?
11. What do the companies pledge if they want to get a secured loan?
12. How much does the factory pay to the company it deals with?
13. What firms are able to sell commercial papers?
II. Give English equivalents:
1. оплатить в течение года
2. фактор; агент, скупающий неоплаченные долги
3. квитанция на оплату
4. типичная торговая сделка
5. оставлять залог
6. процент от стоимости
7. продавать переводные (простые) векселя
8. установленный период времени
9. прямые ссуды
10. хорошая кредитоспособность
перевод текста SHORT TERM FINANCING
I. Answer the following questions:
1. How can a company cover its seasonal financial needs?
2. What do the companies spend short term funds on?
3. What are the most popular outside sources of short term funds?
4. How much of all business arrangements does trade credit involve in the USA?
5. How do the companies arrange trade credit?
6. How do firms build up savings by using trade credit?
7. How do commercial banks lend short term funds to their customers?
8. What is a line of credit?
9. What is the difference between a secured loan and an unsecured one?
10. Which customers usually get unsecured loans?
11. What do the companies pledge if they want to get a secured loan?
12. How much does the factory pay to the company it deals with?
13. What firms are able to sell commercial papers?
II. Give English equivalents:
1. оплатить в течение года
2. фактор; агент, скупающий неоплаченные долги
3. квитанция на оплату
4. типичная торговая сделка
5. оставлять залог
6. процент от стоимости
7. продавать переводные (простые) векселя
8. установленный период времени
9. прямые ссуды
10. хорошая кредитоспособность
выполнена контрольная работа по английскому языку, состоящая из перевода текста SHORT TERM FINANCING и двух заданий к тексту
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