What’s Your Business Financing IQ?

  • April 30, 2015

  •  | 
  • Category: 

Share:

How much do you know about business financing? Find out with this quick 10-question quiz.


Share Your Results
What best describes a business credit profile?

A. A metric used to determine if a business owner is eligible for a personal credit card

B. A way for lenders to determine the risk of a business as a borrower

C. A page on social media that lets customers review their satisfaction with a business

D. A handout that lets customers know what credit cards a business accepts for payment

True or False: Collateral is always required to get a business loan.

True

False

Which best describes an SBA loan?

A. A type of factoring

B. Startup funding from the Startup Business Association

C. Loans made by lenders such as banks, that are partially guaranteed by the Small Business Administration

D. A cash advance

Which of these financing options require a business to accept credit card transactions?

A. Merchant Cash Advance

B. Factoring

C. Equity Financing

D. All of the above

Someone invests $25,000 in your business for a 10% ownership stake. This is an example of:

A. Debt Financing

B. Equity Financing

C. SBA Financing

D. Factoring

True or False: If you decide to borrow money from friends or family, you probably don’t need a written agreement.

True

False

Non-profit lending is a good fit for:

A. Smaller, local businesses

B. National corporations

C. Tech startups

D. Non-profit organizations

Which of the following is NOT true about a line of credit?

A. Interest is only paid on the amount of capital the business uses

B. There are both secured and unsecured lines of credit

C. You can get a line of credit from both bank and non-bank lenders

D. A line of credit is based on credit card sales

True or False: Your personal credit score is typically taken into account when applying for business financing.

True

False

Factoring is a good fit for:

A. Businesses with a lot of collateral

B. Established businesses with regular customers who pay large invoices by check

C. Businesses who receive most of their revenue in cash

D. Startups

Financing Newbie – 0-3 Correct Answers

You’ve got some studying to do. Luckily, you can find information about all types of business financing options right here on BuisnessLoans.com!

Financing Apprentice – 4-7 Correct Answers

Hey you’re pretty good at this! But you still have more to learn. Check out the different sections of BusinessLoans.com to brush up on the business financing facts you may have missed.

Financing Guru – 8-10 Correct Answers

Wow! You know your stuff – well done!

Want more information about a specific term or phrase seen in the quiz? Search our website using the search bar in the top right or go directly to our list of financing definitions.

Make sure you share your results with friends by clicking your favorite social media icon on the results page above.


    Share: