Examlex
Identify three advantages and three disadvantages of EC for small and medium-sized businesses.
Unsecured Creditor
A creditor who extends credit without requiring specific collateral to secure the debt owed by the borrower.
Collateral
Assets pledged by a borrower to secure a loan or credit, which can be seized if the loan is not repaid.
Debt Amount
The total sum of money that is owed by an individual, company, or other entity.
Federal Exemptions
Provisions within federal law that allow individuals or entities to be excluded from certain rules, obligations, or liabilities.
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