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Contestant Number: ___ Time: ___ Rank: ___BANKING & FINANCE (145) REGIONAL 2021 Multiple Choice: (25 @ 2 points each)___(50 points)True/False: (15 @ 2 points each)___(30 points)Installment Loans:
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How to fill out business loan vs student

01
Determine the purpose of the loan: Understand whether you need the loan for starting or expanding a business, or for pursuing higher education.
02
Gather necessary documents: For a business loan, you will need business financial statements, business plan, personal financial statements, and tax returns. For a student loan, you will need proof of enrollment, academic transcripts, and financial information.
03
Research lenders: Look for lenders who specialize in either business loans or student loans, depending on your needs.
04
Complete the application: Fill out the application form accurately and provide all required information.
05
Wait for approval: The lender will review your application and credit history before approving the loan.
06
Understand the terms: Once approved, carefully review and understand the terms of the loan including interest rate, repayment schedule, and any fees involved.
07
Receive the funds: If approved, the lender will disburse the funds either to your business account or directly to your educational institution.

Who needs business loan vs student?

01
Business loan: Entrepreneurs or business owners who need capital to start a new business, expand an existing business, or cover operating expenses.
02
Student loan: Students who need financial assistance to pay for tuition fees, books, accommodation, or other educational expenses while pursuing higher education.
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A business loan is typically taken out by businesses for specific business-related purposes, while a student loan is specifically designed to help students pay for education expenses.
Business owners or representatives are required to file for a business loan, while students or their parents are required to file for a student loan.
To fill out a business loan, you will need to provide information about your business and financial situation. To fill out a student loan, you will need to provide information about your education and financial situation.
The purpose of a business loan is to provide financial support for business-related activities, while the purpose of a student loan is to provide financial support for education-related expenses.
Information such as financial statements, business plans, and credit history must be reported on a business loan, while information such as school enrollment, tuition costs, and financial need must be reported on a student loan.
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