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LSDefine

Simple English definitions for legal terms

commercial loan

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A quick definition of commercial loan:

A commercial loan is when a bank or other financial institution gives money to a business for a short period of time, usually between 30 to 90 days. The business has to pay back the loan with interest. It's like borrowing money from a friend, but instead of a friend, it's a bank and you have to pay them back more than you borrowed.

A more thorough explanation:

A commercial loan is a type of loan that a financial institution gives to a business, usually for a period of 30 to 90 days. The borrower must pay back the loan with interest within the agreed-upon time frame. Commercial loans are often used to finance business operations, such as purchasing inventory or equipment, expanding the business, or covering short-term cash flow needs.

Example: A small business owner needs to purchase new equipment to expand their operations. They apply for a commercial loan from a bank and are approved for a $50,000 loan with a 6% interest rate. The loan must be repaid within 60 days. The business owner uses the loan to purchase the equipment and pays back the loan with interest within the agreed-upon time frame.

This example illustrates how a commercial loan can be used to finance a business's expansion and how the borrower must repay the loan with interest within the agreed-upon time frame.

commercial letter of credit | commercially reasonable

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[] c0bra1
16:14
damn my wake forest withdrawal didnt help the wl ppl 💀
MrThickRopes
16:15
what they gon collect frum me
MrThickRopes
16:15
nothin
Fuck fo pm
MrThickRopes
16:24
thas right
BlueFalcon95
16:25
Das right
hey, just so u all know - i just farted
i luv u all and will be seeing u all shortly
17:02
I floated marquettes deadline hopefully someone on the WL is thankful
18:10
safety
18:56
Ughhhhhhhhhh
Lets gooo my school was gunning median this last cycle 🤣
21:37
movie recs?
starfishies
21:45
rankings out woo
eggan
22:06
NYU solos columbia any day
Washu, TX, Vandy all move up and did well at 14
I am shocked that NW drops to 10 and NYU moves up to 8
[] c0bra1
23:07
holy cow unc is 18 time to beg to get off the waitlist
[] c0bra1
23:08
"rankings don't matter" i chant as i reorder my preference list
23:22
are the rankings on US News&World Report accurate?
YM-Honor-Student
23:24
No those are incorrect
YM-Honor-Student
23:24
Kansas is t14 and Cornell is rank 50
YM-Honor-Student
23:25
@DrDresSays: I recommend Cinema Paradiso. Makes me cry everytime.
YM-Honor-Student
23:26
The rankings literally did not change in my opinion. Smh. Going by like job outcomes and constitutional law, stayed the same.
23:28
@YM-Honor-Student: thank you!
YM-Honor-Student
23:29
You are welcome!
YM-Honor-Student
23:33
UFlorida should be higher for winning march madness lol.
Napo
1:43
Oof ASU dropped hard
LovelyDay
4:46
Yeah, they’ve been heading in that direction and the methodology change made it even more pronounced. As dumb as these rankings are, think they placed ASU about right
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