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Preschoolers Cal and Jacob are playing with toy trucks. Jacob says, "My mommy took me to watch the construction at the end of the street." Cal responds, "This dump truck is yellow and black. I have one like this at my house." Then Jacob says, "They were digging up the road with a backhoe. They are putting a big pipe under the road." Cal then says, "I also have a green cement truck. It can turn. I got it for my birthday." This conversation is an example of:
Lines Of Credit
Flexible loan arrangements with a financial institution which allow borrowers to draw funds up to a specified limit as needed.
Short-Term Bank Loans
Loans provided by banks that are typically due for repayment within a year or less.
Banks
Financial institutions licensed to receive deposits, offer loans, and provide various other financial services.
Repay
To pay back or return money that was borrowed from a person, bank, or financial institution.
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