Lender of Last Resort
What is a lender of last resort A lender of last resort is a financial institution that provides loans to banks or other financial institutions...
Voluntary Lien
What is a Voluntary Lien A Voluntary Lien is a debt that the borrower has agreed to pay. This type of debt is often in...
Attorney-In-Fact
What is an Attorney-In-Fact In the legal world, an attorney-in-fact is someone who has been appointed to act on another person's behalf. This can be...
Ballpark Figure
Three Reasons to Use a Ballpark Figure A ballpark figure refers to a general, informal estimate. It's an adaptation of the earlier phrase "in the...
Certainty Equivalent
The Concept of the Certainty Equivalent The concept of the certainty equivalent is closely related to the concept of risk premium, which is the additional...
Decreasing Term Insurance
What is decreasing term insurance and how does it work When most people think of life insurance, they think of whole life or term life...
How to Celebrate a Successful Business Sale
Celebrating a successful business sale motivates your staff and lets them know how important they are to the business's success. However, there are countless...
4 Ways to Boost Your Small Business Working Capital
Small businesses are the backbone of the American economy, but they often have trouble accessing the capital they need to grow and thrive. Working...
Personal Service Corporation
What is a personal service corporation? A personal service corporation is a type of corporation that provides services to individuals. Its services can vary, but...