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Tire City. Tire City, Inc. ... During the previous three years at Tire City, the company
had experienced a compounded annual sales increase in excess of 20%. ...
tire city. Lecture Notes- Bank Loans Types 1. Long-term versus short-term
2. Long-term loans a. Has maturities of longer than one ...
... TIRE SELECTION Tire selection is ... While Normal tires may work well on the highway
and on city streets, they are virtually worthless in an actual racing situation ...
... overtime they began to tire and needed to rest as they could no longer put up a
good fight. Natoo ordered his men to retreat back behind their city walls to ...
... The city of Birmingham Alabama, known for the Magic City, is also know for the ... it
is time to reconvene the season of evil.” The other lead was the tire tracks ...
Submitted by gone2nite on October 30, 2007
Category: Business
Words: 530 | Pages: 3
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Lecture Notes- Bank Loans
Types
1. Long-term versus short-term
2. Long-term loans
a. Has maturities of longer than one year
b. Supported by a loan agreement that describes the terms, covenants
c. May be secured by assets owned by the firm or by key officers
d. Maturities today generally max out at seven years.
e. Used to finance long-term growth
3. Short-term loans
a. Generally called lines of credit or revolving credit (revolvers)
b. Used to finance seasonal or short-term needs
c. Generally not supported with a loan agreement
d. Bank has the option to withdraw a line of credit
e. Is self-liquidating by season or year
f. Revolvers can extend beyond one year; not restricted to particular seasonal needs; most popularly convert to a term loan after some period of time
4. The three “C”’s of lending are:
a. Credit worthiness- this is a quantitative determination made by the bank utilizing historical financial ratios to ascertain the company’s financial capabilities, control, forecasting, etc.
b. Character- For many bankers, this is the most important requirement. It is a subjective determination of the past history of the borrowers in terms of the trust that others have placed on them in the industry, community, etc.
c. Cash flow- This is usually based on forecasts prepared by the company and represents their needs and ability to fund repayment of the debt out of operating cash flows over some future period.
5. Fixed rate versus variable (floating rate)
6. Secured versus unsecured. Secured lending, or “asset-based” lending usually occurs because the lender has some reservations about the company’s ability to repay the loan from operating cash flows. In effect, the lender is lending partially based on the securing of an equity position in certain assets; these may be...
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