Warning

Info

Warning

Info

Warning

Info

LSDefine

Simple English definitions for legal terms

commercial loan

Read a random definition: business loss

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

Warning

Info

General

General chat about the legal profession.
main_chatroom
👍 Chat vibe: 0 👎
Help us make LSD better!
Tell us what's important to you
WorthlessAttractiveZombie
9:31
I think so, Jack
9:31
some people hate him. some people love him, but he a real one: https://youtu.be/w5oEqiVQcF4?t=173
9:32
[kevin oleary]
worthless i trust you implicitly you know what it will happen now.
worthless i trust you implicitly you know what it will happen now.
worthless i trust you implicitly you know what it will happen now.
worthless i trust you implicitly you know what it will happen now.
worthless i trust you implicitly you know what it will happen now.
WorthlessAttractiveZombie
9:34
I mean if Fordham doesn't release today I will purposefully get on a train, go to new york, and then take the stinkiest shit inside the admission office's toilet (potentially clogging it and forcing them to get a plumber)
IS IT ONLY ON MY END WHY DID THAT SEND TEN MILLION TIMES
HELLO
WorthlessAttractiveZombie
9:35
it sent a million times lol
WHAT HAPPENED
yeah i thought you were tweaking for a second
i'm so sorry everyone what the actual fuck this website hates me
WorthlessAttractiveZombie
9:35
Jack's just tweaking on LSD no biggie
to be fair this accurately represents my mental state
election day psychosis coming in hot (fordham)
usc pls pull through .....
i literally just need one A so i can relax before my ED decision
WorthlessAttractiveZombie
9:38
oh that's right USC might release
soapy
9:43
USC still has not looked at my app
WorthlessAttractiveZombie
9:43
when did you submit soapy?
soapy
9:44
10/16
WorthlessAttractiveZombie
9:44
to be fair it took them almost 2 months for me to go under review
soapy
9:44
Feelin a bit stressed, as I've got no date change for Michigan either despite applying 10/7
WorthlessAttractiveZombie
9:45
I have not had a date change either for Mich but I've seen people get in without one so who knows
I applied 9/25 to like 6 schools and some (Houston) have no date change yet so dw
soapy
9:46
But do people get in without addresses going long?
WorthlessAttractiveZombie
9:46
it's tough to tell because a lot of people type out their addresses long to begin with
LSD+ is ad-free, with DMs, discounts, case briefs & more.