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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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1a2b3c4d26z
19:44
ft goated
concorde
19:45
I hate Dostoevsky
2big2fail
19:45
studying cloud computing, not the cloud of unknowing
babycat
19:45
@1a2b3c4d26z: serotonin is my fave houellebecq
1a2b3c4d26z
19:45
chefs kiss mwah
2big2fail
19:45
i honestly dont understand why people like houellebecq
1a2b3c4d26z
19:45
I'll try to describe how I feel about him
2big2fail
19:46
my favorite french authors are balzac and proust, as basic as that is
1a2b3c4d26z
19:46
basically I read his book and the whole time I read it I liked it so I finished it and I said hm I liked that book written by the author houellebecq
1a2b3c4d26z
19:46
balzac hahaha
2big2fail
19:46
lost illusions is goated
does it take longer to hear back if u applied to scholarships for schools like ucla???
Dkk
19:47
For Houellebecq I have only read https://en.wikipedia.org/wiki/Atomised
JumpySubsequentDolphin
19:47
you guys should read averroes
also do we think ucla wont do a wave tmw cuz they did a tiny one tonight, can schools do 2 days ina. row
JumpySubsequentDolphin
19:47
perhaps read the incoherence of philosophy first and then read averroes’ response: “the incoherence of the incoherence”
2big2fail
19:47
@Dkk: i read that one. just thought it was boring and not really in touch with reality
JumpySubsequentDolphin
19:47
SPLITTY usually they’re Friday!
Dkk
19:48
@2big2fail: I agree.
HUH then what the heck is this wave tonight ab are they tryna give us an attack???
babycat
19:49
@texaslawhopefully: don’t really remember it but my ibooks library says i read it in 2020. that whole year is a haze.
Dkk
19:51
My favorite book though, The Good Morty: https://archive.org/details/TheGoodMorty
Dkk
20:09
Man, I guess nobody like The Good Morty
2big2fail
20:10
didnt even look at it
Dkk
20:12
R.I.P.
Dkk
20:13
https://www.youtube.com/watch?app=desktop&v=0uzynaLi4Tg&t=0s such a minor joke, so good to me.
babycat
20:16
I hate The Good Morty
Dkk
20:21
I hate him too. So lame.
Dkk
20:23
If someone has over like a 170 and they report their stats in the 2023-2024 cyle, I really question if they deserved that 170.
Dkk
20:23
I'm gunna report all my shit in the 2025-2026 cycle for now on.
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