Commercial lender (US)
Okay kiddo, so a commercial lender is someone who can give you money to help you start or grow a business.
Let's say you want to open a lemonade stand. You may need some money to buy lemons, sugar, cups and a pitcher. A commercial lender could give you that money so you can get started.
But remember, the commercial lender is not just giving you money for free. They will also charge you something called interest, which is like a fee for borrowing the money. You have to pay back the money you borrowed, plus the interest.
Commercial lenders have a lot of experience and expertise in lending money to businesses, so they can help you figure out how much money you need and how long it will take to pay it back. They can also help you understand the risks involved in borrowing money and how to manage your finances so you can pay back the loan successfully.
In short, a commercial lender is someone who can give you money to start or grow a business, but you have to pay it back with interest. They can also give you advice and guidance to help you succeed.
Let's say you want to open a lemonade stand. You may need some money to buy lemons, sugar, cups and a pitcher. A commercial lender could give you that money so you can get started.
But remember, the commercial lender is not just giving you money for free. They will also charge you something called interest, which is like a fee for borrowing the money. You have to pay back the money you borrowed, plus the interest.
Commercial lenders have a lot of experience and expertise in lending money to businesses, so they can help you figure out how much money you need and how long it will take to pay it back. They can also help you understand the risks involved in borrowing money and how to manage your finances so you can pay back the loan successfully.
In short, a commercial lender is someone who can give you money to start or grow a business, but you have to pay it back with interest. They can also give you advice and guidance to help you succeed.