Sources of Finance available to Joseph Chamberlain Sixth Form College.
Akhtar Esmail Adam J35081
Task 4 (P3)
Sources of Finance available to Joseph Chamberlain Sixth Form College
There are two types of sources of finances namely internal sources and external sources. Internal sources of finance can be from savings or profits however external sources of finance can be from outside the business such as banks, shares etc
There are many different sources of finance available generally however it depends on the actual business type. For JCC the sources of finance available to them are as follows:
- Banks – banks are able to offer loans, business accounts, commercial mortgages and overdraft facilities based on the business plan. Interest is payable based on the predicted risk. Some security will need to be provided, e.g. assets such as a college premises, college mini bus and any valuable item which is worth more than the loan. JCC may take this loan in for its finance for the use of buying premises.