OCR GCSE Business · J204
Paper 2
Revise: Methods of Raising FinanceThe bank must approve the application and may require security: an asset it can take if the business fails to repay the secured loan. This puts that asset at risk.
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GCSE Business · key term
An asset pledged to a lender which may be taken if the borrower fails to repay a secured loan.
Used by OCR
Paper 2
Revise: Methods of Raising FinanceThe bank must approve the application and may require security: an asset it can take if the business fails to repay the secured loan. This puts that asset at risk.
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