Explain characteristics of short term Finance.
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Characteristics of Short Term Loans. Short term loans are called such because of how quickly the loan needs to be paid off. In most cases, it must be paid off within six months to a year and a half. Any loan for a longer loan term than that is considered medium term or long term.
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Characteristics of short term finance.
Explanation:
- Short term finance as the name itself is meant for short term financial need.
- it generally fulfills short term financial needs which varies between few days to one year.
- it is generally raised from various sources such a bank credit, trade credit, consumer credit etc.
- it helps in meeting day to day financial need of the firm such as purchase of raw material etc.
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Sources of short term finance.
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