The world of business finance is notorious for its confusing jargon and multiple-meaning terms. Contracts, conditions and legal documents are rife with phrases that can be overwhelming to any business owner. Whilst your accountant or consultant might deal with some of your paperwork, all business owners have to handle their own documents at some point, and they can be difficult to digest. So, we’ve introduced the MarketInvoice Jargon Buster – a business finance glossary to help you navigate the world of business finance.
It’s vital business owners are able to navigate the words and phrases used by finance providers on a day-to-day basis – now more than ever. Banks and other traditional lenders are serial offenders here, with some terms that almost seem designed to confuse and frustrate. It’s important that those who chose to borrow from traditional or non-traditional finance providers know exactly how their loan will work – this often comes down to the nitty-gritty terms, the dense jargon and tricky clauses of the paperwork itself.
You will find that many contracts or agreements from lending institutions are purposely riddled with complex lexicon – fees and charging details are hidden in ‘disbursements’ and small print. Whilst obtaining finance providers can be a great opportunity for business owners to focus on growth, it’s all too easy to get caught out and incur huge charges from seemingly nowhere.
This jargon busting guide has been created to stop this from happening to you and your business. We’ve composed easy-to-digest definitions for a vast array of business finance terms that we think the average business owner will encounter on a frequent basis. Our specialist staff from the Legal, Risk and Sales departments all contributed with language they think consumers struggle to grasp. We hope it helps give you and your business a clarity of understanding, and the confidence to deal with all the paperwork you encounter.