PPB

banking services and product lines offered by banks to retail customers, that is consumers rather than businesses

is property used exclusively for business purposes or to provide a workspace rather than a living space. Often is leased to business owners

a short-term loan used to finance the building of a home or another real estate project. Considered relatively risky, typically higher rate

government agency established in 1953 to bolster and promote the economy in general byproviding assistance to small businesses.

Can provide lending before the two year threshold of most financial institutions. Also provide counseling & aid for business growth.

Puroposes programs and implements policies and regulations related to American farming, forestry, ranching, food quality, & nutrition.

business banking or institutional banking, refers to banking products & services designed for corporations, institutions, & gov't

organization in a subdivision, planned community, or condominium building that makes and enforces rules for the properties and its residents

the overseeing of residential, commercial and/or industrial real estate. involves managing properties owned by another party or entity.

Money or property placed in the possession of the bank, with an obligation of the bank to return the identical thing deposited

management of an enterprise's holdings, with the ultimate goal of managing the firm's liquidity and mitigating financial risk.

may not be used to buy goods and services in any country other than the one in which it is printed, unless the government agrees

the organized provision of medical care to individuals or a community

An organization not making or conducted primarily to make a profit

employee benefit plan that gives workers ownership interest in the company.

is a prerequisite to legal capacity, the ability of any legal person to amend rights and obligations.

a person, company, or institution that owns at least one share of a company's stock, which is known as equity.

represents the shareholders' stake in the company, identified on a company's balance sheet.

The calculation of equity is a company's total assets minus its total liabilities.

is a measure of the profitability of a business in relation to the equity. can also be thought of as a return on assets minus liabilities.

to measure how many dollars of profit are generated for each dollar of shareholder's equity. How much profit is generated from equity.

the interest rate that commercial banks charge their most creditworthy corporate customers.

serves as the basis for the prime rate, and prime serves as the starting point for most other interest rates.

Early rate that is charged for borrowing, which represents the annual cost of funds over the term of the loan.

interest earned during a 1 yr period. This includes interest earned on the amount in the account & compounded interest for the year

An electronic network in the United States that allows financial institutions to transfer funds.

A consolidation of funds from multiple accounts into a single master account.

This improves efficiency of cash management, especially for businesses with multiple locations or branches.

Earns interest at a certain rate for a specified amount of time.

generally considered safe investments and usually have a higher interest rate than regular savings accounts.

Interest paid on the principal account balance and on the interest it has already earned.

: A number that indicates to the lender an individual’s ability to repay a loan.

A system that allows creditors to automatically withdraw payments from a customer’s bank account at regular intervals.

An electronic-based system that transfers funds between accounts.* This includes Automated Clearing House (ACH) and wire transfers.

independent government agency that insures deposits of all national and state banks that are members of the Federal Reserve.

insures banks’ deposits for up to $250,000 per depositor.

taxpayers who are allowed to contribute all of their compensation up to a certain amount. may be tax deductible, depending on several others

Established by taxpayers who are allowed to contribute all of their compensation up to a certain amount. Roth IRAs are not tax deductible.

Retirement plans established by employers.

A loan arrangement between a bank and a customer allowing the customer to borrow funds up to a specified limit

The date the principal amount of a debt instrument is due and repaid to the investor. This is also the date interest payments stop.

The minimum balance a bank requires an account to have each day to avoid maintenance fees.

: interest-bearing account that has higher rates than savings accounts, but requires a high minimum balance and restricts # of transactions

six withdrawals/transfers each monthly statement cycle & $2,500 minimum daily balance to avoid $10 monthly service fee.

An arrangement between a customer and a bank that authorizes the bank to withdraw from the customer’s account.

to prevent check fraud by verifying that checks presented for payment match company-issued checks & alerts check issuers of mismatches.

allows customers to deposit checks at their convenience using a scanner or smartphone and software provided by the bank.

No, it is considered an Image of the check and not the check itself, and are subject to Reg. CC funds availability holds.

An account that automatically “sweeps” funds exceeding a predetermined balance into another internal account (usually with higher interest)

issued by bank on behalf of its client that guarantees payment to fulfill a contract,should the client fail to meet contractual obligations

A loan with a specified repayment schedule, usually between one and ten years, and typically with a fixed interest rate.

replenishes up to the agreed upon threshold, known as the credit limit, as the customer pays off debt.

receives only enough funds from the concentration account to cover checks presented each day in order to maintain a balance of zero

businesses to eliminate excess balances and increase investment opportunities or for risk mitigation.

business owned by only one person. The owner faces unlimited liability; meaning, the creditors of the business may go after personal assets.

business owned by two or more persons who contribute resources into the entity.partners divide the profits of the business among themselves.

all partners have unlimited liability.

partnership consisting of a general partner, who manages the business and has unlimited personal liability for the debts and obligations.

False, A limited partner, who has limited liability but cannot participate in management.

a business org. that has a separate legal personality from its owners. Ownership in a stock corporation is represented by shares of stock.

The elected board of directors controls the corporations activites

businesses that have characteristics of both a corporation & partnership. may elect to be taxed as sole proprietorship, partnership, or corp

business organization owned by a group of individuals and is operated for their mutual benefit.Cooperatives may be incorporated or unincorp.

* The persons making up the group are called members.

business producing operations of a farm, the manufacture & distribution of farm equipment & supplies, & the processing, storage, & distribut

provides intangible products (products with no physical form). Service type firms offer professional skills, expertise, & advice.