You Make the Call-Situation 1
David Bernstein needs help financing his Lodi, New Jersey-based Access Direct Inc., a six-year-old $3.5 million company. "We're ready to get to the next level," says Bernstein. "But we're not sure which way to go." Access Direct spruces up and then sells used computer equipment for corporations; it is looking for up to $2 million in order to expand. "Venture capitalists, individual investors, or banks," says Bernstein, who owns the company with four partners, "we've thought about them all."
Definitions:
Mortgage Loan
A loan secured by the collateral of specified real estate property, which the borrower is obliged to pay back with a predetermined set of payments.
Compounded Monthly
Interest calculation method where interests earned themselves earn interest, recalculated on a monthly basis.
Interest
The cost of borrowing money or the payment received for deposit funds, usually expressed as a percentage rate over a period of time.
Present Value
Today's equivalent monetary worth of future cash sums or flows, discounted at a specific rate of return.
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