23 terms starting with B
Bad credit finance is a broad category of lending products designed for borrowers whose credit history shows defaults, court judgments or bankruptcy, problems that make mainstream lenders hesitant.
Read definitionA bad debt is an amount owed to your business, usually an unpaid invoice already counted as income, that you cannot recover despite reasonable efforts and so write off.
Read definitionA balance sheet is a financial statement that shows a business's financial position at a specific date: what it owns (assets), what it owes (liabilities) and the owners' equity.
Read definitionA balloon payment is a lump sum, agreed upfront, that is paid at the end of a loan term and lowers the regular repayments by deferring part of the principal.
Read definitionA balloon refinance is a new loan taken out to pay the balloon payment owed at the end of a car or equipment finance term.
Read definitionA bank guarantee is a written promise from a bank to pay a set amount to a third party if its customer does not meet an obligation.
Read definitionA bank statement is a record from your bank listing every deposit, withdrawal and fee on an account, with the running balance for the period.
Read definitionBankruptcy is a legal status for an individual who cannot pay their debts, under which a trustee takes control of their affairs and deals with creditors on their behalf.
Read definitionA base rate is the reference interest rate a lender starts from, before it adds the margin, or spread, that reflects the borrower and the term.
Read definitionA basis point (bps) is a unit equal to one hundredth of a percentage point, used to express small changes in interest rates, yields, fees and spreads.
Read definitionA beneficial owner is the natural person who ultimately owns or controls a company, trust or other entity, even when legal title sits in another name.
Read definitionBeneficial ownership is the right to enjoy the benefits of an asset or company, such as income or sale proceeds, even when someone else is the legal owner.
Read definitionThe best interests duty is a statutory obligation requiring financial advisers giving personal advice and mortgage brokers arranging credit to put the customer's interests first.
Read definitionA bill of sale is a written record that documents the transfer of ownership of personal property, such as a vehicle, boat or equipment, from a seller to a buyer.
Read definitionBlock discounting is receivables finance where a lender finances a whole portfolio, or block, of hire-purchase or instalment contracts in one facility rather than individual invoices.
Read definitionBreak costs are the charges a lender passes on when a fixed rate loan is repaid or changed before the fixed term ends.
Read definitionA break option is a lease clause that lets the lessee, the lessor or both end a lease early, provided they give the required notice and meet its conditions.
Read definitionA bridging loan is short-term finance secured by a mortgage over property, covering the gap when you buy a new property before the sale of your existing one settles.
Read definitionA broker is a licensed intermediary who connects borrowers with lenders, comparing finance options across a panel of lenders and submitting applications on the borrower's behalf.
Read definitionA business loan is finance for business operations, capital expenditure or growth, repaid with interest, either over an agreed term or as a revolving limit you draw and repay.
Read definitionBusiness risk is the chance that an event or condition stops a business meeting its objectives, from profitability and growth to regulatory compliance and continuity.
Read definitionBuy now, pay later (BNPL) is regulated consumer credit where a provider pays the merchant up front and you repay in set instalments, usually interest-free if paid on time.
Read definitionA buy-back is a contractual arrangement in asset finance where the seller, or another party, agrees to repurchase an asset at a future date or under agreed conditions.
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