3. Identify TWO possible suitable sources of external finance Chris could consider, if the local bank
manager refuses to give him a loan for purchasing a new van for his business. (10 marks)
Please help

Respuesta :

Answer:

Hire Purchase

Loans from friends

Explanation:

Hire purchase

A hire purchase (HP) , is also called an installment plan, it is is an financing contract whereby a customer agrees to acquire an asset by paying an initial deposit and repays the balance of the price plus interest on installment bases  over a period of time .

Loans from friends

These are loans received from friends which are mostly interest free