(1) Short-term loan that is made in anticipation of permanent longer term loans. The interest rate on such a loan is usually higher than on longer term loans. (2) A business loan in which cash is received for a specific transaction, and repayment will be from cash flows from an identifiable source. ...

A tender has several meanings in everyday discourse. Most generally, tender means a formal offer designed for acceptance with the anticipation of soliciting a response in return. Bidding means organizing a tender to sell and buying shares, stocks, valuables, or even private property. And, finally, a...

Representative of a single insurer or fleet of insurers who is obliged to submit business only to that company, or at the very minimum, give that company first refusal rights on a sale. In exchange, that insurer usually provides its captive agents with an allowance for office expenses as well as an ...

The concept behind a Private Mortgage Insurance (PMI) is pretty simple: it exists to make sure the lender doesn’t lose its money. What it does is “buy” the possible defaults of a borrower to a lender. Meaning: if the borrower doesn’t pay the premium, the Private Mortgage In...