Sources of finance
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This document discusses various long-term sources of finance for businesses. It defines long-term finance as those needed for over a year, often for expansion projects. The sources discussed include equity shares, preference shares, debentures, term loans, securitization, leasing vs hire purchase, and other options like IPOs, government subsidies, supplier's credit, private placements, venture capital and bank loans. The key attributes and processes for each type are outlined.
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Factoring
Factoring is the sale of accounts receivable (book debts) by a firm to a financial institution called a factor. The factor provides upfront cash payment for the receivables, usually 80%, and assumes responsibility for collecting payment from customers and managing credit risk. Factoring provides firms with working capital and credit protection. It involves three main parties - the client firm, its customers, and the financial institution factor. Factoring has grown in importance globally as a source of trade financing and working capital for businesses.
Consumer finance ppt
Consumer finance refers to granting credit to consumers to purchase goods for everyday use through installment plans. There are different types of consumer credit like revolving credit (credit cards), fixed credit (loans), and cash loans. Sources of consumer finance include traders, commercial banks, credit card companies, NBFCs, and credit unions. Factors driving demand for consumer finance are increasing income, installment payment plans, and growth in households. Products covered include cars, appliances, and electronics. Terms of financing evaluate borrowers' income, employment, guarantees, interest rates, and fees. While consumer credit allows purchases and economic growth, it can also lead to overspending, insolvency, high costs, bad debts, and economic instability.
Forfaiting
Forfaiting is a mechanism where an exporter's rights to export receivables such as letters of credit or bills of exchange are purchased by a financial intermediary called a forfaiter without recourse to the exporter. This converts the exporter's credit sale into a cash sale, absolving the exporter of political or conversion risks while providing up to 100% financing without recourse. The key parties involved are the exporter, importer, forfaiting agency which is typically the exporter's bank, the importer's guaranteeing bank, and domestic export-import banks. Forfaiting provides liquidity to exporters, fixes the financing rate, and keeps the transactions confidential.
Factoring & Forfaiting
Factoring and forfeiting are mechanisms for financing exports. Factoring involves purchasing a company's accounts receivables to provide working capital, while forfeiting involves discounting export bills or promissory notes without recourse to the exporter. There are benefits to both exporters and importers such as improved cash flow, risk mitigation, and access to longer term financing. The key differences are that factoring is for ongoing domestic or export sales while forfeiting is for single export transactions backed by letters of credit or guarantees.
Innovative sources of finance
Venture capital and loan syndication are innovative sources of finance. Venture capital involves financing start-up companies in exchange for equity, expecting higher returns due to high risk. Loan syndication involves multiple lenders providing portions of a large loan through an arranger when one lender cannot provide the full amount. Both mechanisms allow businesses access to funding beyond traditional sources.
Credit rating
Credit ratings are evaluations of a debtor's ability to pay back debt, conducted by credit rating agencies. They use both public and private qualitative and quantitative information to assess risk of default. Credit ratings indicate the likelihood that bond obligations will be paid back and are used by investors to determine risk-return tradeoffs. Higher credit ratings indicate lower risk while lower ratings suggest higher risk of default. The document outlines the meaning and purpose of credit ratings, benefits to investors and companies, types of ratings, major credit rating agencies, and their methodology.
Factoring
It includes the meaning and types of Factoring, a brief note on overtrading and undertrading and a small case study.
Merchant Banking ppt
Merchant banking provides capital to companies through equity investment rather than loans. It offers advisory services on corporate matters and investment banking services like mergers and acquisitions. Merchant banking started in Italy and France in the 17th-18th centuries and modern merchant banking began in London by financing foreign trade through bill acceptance. In India, merchant banking was introduced by Grindlays Bank in 1967 and other Indian and foreign banks subsequently established merchant banking divisions. Merchant banks invest their own capital and provide services primarily to large corporations and high-net-worth individuals rather than retail banking.
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Factoring
Factoring is the sale of accounts receivable (book debts) by a firm to a financial institution called a factor. The factor provides upfront cash payment for the receivables, usually 80%, and assumes responsibility for collecting payment from customers and managing credit risk. Factoring provides firms with working capital and credit protection. It involves three main parties - the client firm, its customers, and the financial institution factor. Factoring has grown in importance globally as a source of trade financing and working capital for businesses.
Consumer finance ppt
Consumer finance refers to granting credit to consumers to purchase goods for everyday use through installment plans. There are different types of consumer credit like revolving credit (credit cards), fixed credit (loans), and cash loans. Sources of consumer finance include traders, commercial banks, credit card companies, NBFCs, and credit unions. Factors driving demand for consumer finance are increasing income, installment payment plans, and growth in households. Products covered include cars, appliances, and electronics. Terms of financing evaluate borrowers' income, employment, guarantees, interest rates, and fees. While consumer credit allows purchases and economic growth, it can also lead to overspending, insolvency, high costs, bad debts, and economic instability.
Forfaiting
Forfaiting is a mechanism where an exporter's rights to export receivables such as letters of credit or bills of exchange are purchased by a financial intermediary called a forfaiter without recourse to the exporter. This converts the exporter's credit sale into a cash sale, absolving the exporter of political or conversion risks while providing up to 100% financing without recourse. The key parties involved are the exporter, importer, forfaiting agency which is typically the exporter's bank, the importer's guaranteeing bank, and domestic export-import banks. Forfaiting provides liquidity to exporters, fixes the financing rate, and keeps the transactions confidential.
Factoring & Forfaiting
Factoring and forfeiting are mechanisms for financing exports. Factoring involves purchasing a company's accounts receivables to provide working capital, while forfeiting involves discounting export bills or promissory notes without recourse to the exporter. There are benefits to both exporters and importers such as improved cash flow, risk mitigation, and access to longer term financing. The key differences are that factoring is for ongoing domestic or export sales while forfeiting is for single export transactions backed by letters of credit or guarantees.
Innovative sources of finance
Venture capital and loan syndication are innovative sources of finance. Venture capital involves financing start-up companies in exchange for equity, expecting higher returns due to high risk. Loan syndication involves multiple lenders providing portions of a large loan through an arranger when one lender cannot provide the full amount. Both mechanisms allow businesses access to funding beyond traditional sources.
Credit rating
Credit ratings are evaluations of a debtor's ability to pay back debt, conducted by credit rating agencies. They use both public and private qualitative and quantitative information to assess risk of default. Credit ratings indicate the likelihood that bond obligations will be paid back and are used by investors to determine risk-return tradeoffs. Higher credit ratings indicate lower risk while lower ratings suggest higher risk of default. The document outlines the meaning and purpose of credit ratings, benefits to investors and companies, types of ratings, major credit rating agencies, and their methodology.
Factoring
It includes the meaning and types of Factoring, a brief note on overtrading and undertrading and a small case study.
Merchant Banking ppt
Merchant banking provides capital to companies through equity investment rather than loans. It offers advisory services on corporate matters and investment banking services like mergers and acquisitions. Merchant banking started in Italy and France in the 17th-18th centuries and modern merchant banking began in London by financing foreign trade through bill acceptance. In India, merchant banking was introduced by Grindlays Bank in 1967 and other Indian and foreign banks subsequently established merchant banking divisions. Merchant banks invest their own capital and provide services primarily to large corporations and high-net-worth individuals rather than retail banking.
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Credit facilities and support services
A credit facility is a formal financial assistance program offered by lending institutions to companies that need operating capital. It can include short-term revolving credit like lines of credit or longer-term credit like term loans. Facilities provide various types of funding options like overdraft services, deferred payment plans, revolving credit, and letters of credit. Essentially, a credit facility is another name for a loan taken out by a company to finance business operations.
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Receivables management
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Source of finance
Internal sources of finance for a business include cash from daily sales, extended credit from suppliers, and reducing stock levels. External finance comes from individuals or organizations outside the business, such as banks or investors. There are also differences between short-term and long-term financing. Short-term finance covers day-to-day operations and is paid back quickly, while long-term finance funds larger projects over multiple years and typically requires some security. A business can obtain funding from either internal or external sources.
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Unit 3rd. Source of Finanace.pptx
This document discusses various long-term sources of finance for businesses. It describes long-term finance as funding needed for over a year, such as for expansion projects. The sources of long-term finance mentioned include shares, debentures, venture capital, government grants, bank loans, mortgages, internal accruals, and term loans. Each source is then discussed in 1-2 paragraphs, covering features like interest rates, security, repayment terms, and procedures for obtaining financing.
Longtermfinance 121012062416-phpapp02
This document discusses various long-term sources of finance for businesses. It describes different types of long-term financing like equity shares, preference shares, debentures, term loans, securitization, leasing, hire purchase, and other options. It explains the key characteristics and differences between these long-term financing instruments and their suitability for funding expansion, modernization, and diversification needs of businesses.
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The document summarizes various topics related to company investment and cash management, including:
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Chapter18 financingofprojects
The document discusses various sources of financing for projects including internal accruals, equity capital, preference capital, debentures, term loans, working capital advances, and miscellaneous sources. It compares the differences between equity and debt financing and lists key factors for determining an appropriate debt-to-equity ratio. Specific financing methods like initial public offerings, rights issues, private placements, and bond offerings are outlined. International financing options through eurocurrency loans, eurobonds, and global depository receipts are also summarized.
SOURCES OF FINANCE.....
This document discusses sources of finance for businesses. It identifies long-term sources like equity shares, preference shares, debentures, and long-term bank loans that provide fixed capital. Short-term sources include trade credit, installment credit, advances, bank overdrafts, bills discounted, short-term loans, and commercial paper that supply working capital and liquidity. The document also outlines factors to consider when choosing a source of finance like the purpose of funds, amount needed, costs involved, and tax implications.
Unit 5- Financial Services
This document provides an overview of financial services. It begins by defining financial services as services provided by the finance industry, including banks, credit companies, insurance companies, brokerages, and investment funds.
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Sources of capital/ Cost of Capital
the cost of capital of a company describes the return expected by creditors of funds to companies. It includes the cost of equity, debt, hybrid and WACC
John convery of west palm beach a financial professional
John Convery is an experienced financial professional in West Palm Beach, Florida. He was born in Point Pleasant, New Jersey and spent part of his childhood in Germany. He attended East Stroudsburg University and graduated in 1984 with a Bachelor of Arts. He then used his education to build a career for himself. He started working in finance and specialized in retirement planning. He established The Educated Wealth Center in 1985 and focused on helping his clients with all of their retirement preparation needs. He has thirty years of experience in the financial industry, and is a regular contributor to radio programs and news sites.
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This document provides an overview of various sources of finance for non-banking financial companies (NBFCs) in India. It discusses long-term and short-term sources of finance, as well as internal and external sources. Specific sources covered include issuing shares, debentures, bonds, loans, leasing, mortgage loans, retained earnings, trade credit, asset sales, debt collection, factoring, public deposits, commercial banks, and commercial paper. For each source, it provides details on what it is and highlights some merits and limitations.
Sources of Finance Functions and Investment Policies of NBFIs in India RBI Gu...
Sources of Finance
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RBI Guidelines on NBFCs
Products offered by different NBFCs in India
Features of these Financial Products
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The document provides an introduction to financial management. It defines finance as the art and science of managing money. The goals of financial management are profit maximization and wealth maximization. Sources of financing include long term sources like shares, debentures, loans, and short term sources like bank financing, trade credit, and commercial paper. Long term financing is for over 5 years while short term is less than 1 year.
Financial Planning
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UNIT- 3 FM ETC (1).pptx
The document provides an introduction to financial management. It defines finance as the management of money and discusses how financial managers are responsible for raising and allocating business funds. The document outlines different goals of financial management like profit and wealth maximization. It also describes various long-term sources of financing like shares, debentures, and loans. Short-term financing options like bank loans, commercial paper, and trade credit are also summarized. The key aspects and features of different financing instruments are defined.
Mutual fund
Mutual funds pool money from many investors and invest it in stocks, bonds, and other securities. They are professionally managed collective investment schemes. In India, there are over 1000 mutual fund schemes from 44 companies with over Rs. 5 lakh crore in assets under management. Mutual funds have a sponsor, trustees to ensure rules are followed, and an asset management company that does the investing. They offer various types of funds across equity, debt, and hybrid categories for different investment needs and risk appetites.
Sources of finance
The document discusses various sources of finance for companies. It categorizes sources as short term, medium term, and long term based on tenure. Short term sources include working capital finance from banks, trade credit, inter-corporate deposits, factoring, and commercial paper. Medium term sources include loans from banks and financial institutions, lease financing, hire purchase, external commercial borrowings, and bonds. Long term sources include shares, debentures, retained earnings, depository receipts, venture capital, and securitization. The document provides details on each type of financing source and their advantages and disadvantages.
Ifm m2-4-other sources of finace
This document provides information on various sources of finance for infrastructure projects including mezzanine financing, preference shares, debentures/bonds, refinancing, and leases. It discusses the characteristics and structures of these financing options. Mezzanine financing sits between equity and debt in terms of risk and return. Preference shares provide a fixed dividend and repayment priority over common shares. Debentures/bonds are used to raise long-term financing through public or private markets. Refinancing can reduce costs and free up cash once a project is operational. Leasing is an alternative to bank loans for financing assets.
Secondary market
1) The secondary market refers to the market where existing securities are traded, providing a platform for investors to buy and sell securities that are already listed on a stock exchange.
2) The primary difference between the primary and secondary market is that in the primary market, securities are first offered to the public for subscription to raise capital, while in the secondary market, already existing securities are traded.
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Mezzanine
Mezzanine finance is medium risk, medium return debt capital that is typically used to finance ownership successions, management buyouts, and growth capital. It has flexible structures like subordinated debt combined with equity warrants. Mezzanine lenders seek management teams with experience and clear business strategies, and look for proprietary advantages, measurable milestones, and alignment of interests between investors and management. Total returns for mezzanine investors typically target 20-25% through both interest payments and equity participation.
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John convery of west palm beach a financial professional
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一比一原版美国新罕布什尔大学(unh)毕业证学历认证真实可查
永久可查学历认证【微信：A575476】【美国新罕布什尔大学(unh)毕业证成绩单Offer】【微信：A575476】（留信学历认证永久存档查询）采用学校原版纸张、特殊工艺完全按照原版一比一制作（包括：隐形水印，阴影底纹，钢印LOGO烫金烫银，LOGO烫金烫银复合重叠，文字图案浮雕，激光镭射，紫外荧光，温感，复印防伪）行业标杆！精益求精，诚心合作，真诚制作！多年品质 ,按需精细制作，24小时接单,全套进口原装设备，十五年致力于帮助留学生解决难题，业务范围有加拿大、英国、澳洲、韩国、美国、新加坡，新西兰等学历材料，包您满意。
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留信网认证的作用:
1:该专业认证可证明留学生真实身份
2:同时对留学生所学专业登记给予评定
3:国家专业人才认证中心颁发入库证书
4:这个认证书并且可以归档倒地方
5:凡事获得留信网入网的信息将会逐步更新到个人身份内，将在公安局网内查询个人身份证信息后，同步读取人才网入库信息
6:个人职称评审加20分
7:个人信誉贷款加10分
8:在国家人才网主办的国家网络招聘大会中纳入资料，供国家高端企业选择人才
→ 【关于价格问题（保证一手价格）
我们所定的价格是非常合理的，而且我们现在做得单子大多数都是代理和回头客户介绍的所以一般现在有新的单子 我给客户的都是第一手的代理价格，因为我想坦诚对待大家 不想跟大家在价格方面浪费时间
对于老客户或者被老客户介绍过来的朋友，我们都会适当给一些优惠。
选择实体注册公司办理，更放心，更安全！我们的承诺：可来公司面谈，可签订合同，会陪同客户一起到教育部认证窗口递交认证材料，客户在教育部官方认证查询网站查询到认证通过结果后付款，不成功不收费！
高仿英国伦敦艺术大学毕业证（ual毕业证书）文凭证书原版一模一样
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本公司拥有海外各大学样板无数，能完美还原海外各大学 Bachelor Diploma degree, Master Degree Diploma
1:1完美还原海外各大学毕业材料上的工艺：水印，阴影底纹，钢印LOGO烫金烫银，LOGO烫金烫银复合重叠。文字图案浮雕、激光镭射、紫外荧光、温感、复印防伪等防伪工艺。材料咨询办理、认证咨询办理请加学历顾问Q/微741003700
留信网认证的作用:
1:该专业认证可证明留学生真实身份
2:同时对留学生所学专业登记给予评定
3:国家专业人才认证中心颁发入库证书
4:这个认证书并且可以归档倒地方
5:凡事获得留信网入网的信息将会逐步更新到个人身份内，将在公安局网内查询个人身份证信息后，同步读取人才网入库信息
6:个人职称评审加20分
7:个人信誉贷款加10分
8:在国家人才网主办的国家网络招聘大会中纳入资料，供国家高端企业选择人才
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OJP data from firms like Vicinity Jobs have emerged as a complement to traditional sources of labour demand data, such as the Job Vacancy and Wages Survey (JVWS). Ibrahim Abuallail, PhD Candidate, University of Ottawa, presented research relating to bias in OJPs and a proposed approach to effectively adjust OJP data to complement existing official data (such as from the JVWS) and improve the measurement of labour demand.Ending stagnation: How to boost prosperity across Scotland
A toxic combination of 15 years of low growth, and four decades of high inequality, has left Britain poorer and falling behind its peers. Productivity growth is weak and public investment is low, while wages today are no higher than they were before the financial crisis. Britain needs a new economic strategy to lift itself out of stagnation.
Scotland is in many ways a microcosm of this challenge. It has become a hub for creative industries, is home to several world-class universities and a thriving community of businesses – strengths that need to be harness and leveraged. But it also has high levels of deprivation, with homelessness reaching a record high and nearly half a million people living in very deep poverty last year. Scotland won’t be truly thriving unless it finds ways to ensure that all its inhabitants benefit from growth and investment. This is the central challenge facing policy makers both in Holyrood and Westminster.
What should a new national economic strategy for Scotland include? What would the pursuit of stronger economic growth mean for local, national and UK-wide policy makers? How will economic change affect the jobs we do, the places we live and the businesses we work for? And what are the prospects for cities like Glasgow, and nations like Scotland, in rising to these challenges?
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Does teamwork really matter? Looking beyond the job posting to understand lab...
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Vicinity Jobs’ data includes more than three million 2023 OJPs and thousands of skills. Most skills appear in less than 0.02% of job postings, so most postings rely on a small subset of commonly used terms, like teamwork.
Laura Adkins-Hackett, Economist, LMIC, and Sukriti Trehan, Data Scientist, LMIC, presented their research exploring trends in the skills listed in OJPs to develop a deeper understanding of in-demand skills. This research project uses pointwise mutual information and other methods to extract more information about common skills from the relationships between skills, occupations and regions.1：1制作加拿大麦吉尔大学毕业证硕士学历证书原版一模一样
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本公司拥有海外各大学样板无数，能完美还原海外各大学 Bachelor Diploma degree, Master Degree Diploma
1:1完美还原海外各大学毕业材料上的工艺：水印，阴影底纹，钢印LOGO烫金烫银，LOGO烫金烫银复合重叠。文字图案浮雕、激光镭射、紫外荧光、温感、复印防伪等防伪工艺。材料咨询办理、认证咨询办理请加学历顾问Q/微741003700
留信网认证的作用:
1:该专业认证可证明留学生真实身份
2:同时对留学生所学专业登记给予评定
3:国家专业人才认证中心颁发入库证书
4:这个认证书并且可以归档倒地方
5:凡事获得留信网入网的信息将会逐步更新到个人身份内，将在公安局网内查询个人身份证信息后，同步读取人才网入库信息
6:个人职称评审加20分
7:个人信誉贷款加10分
8:在国家人才网主办的国家网络招聘大会中纳入资料，供国家高端企业选择人才
在线办理(GU毕业证书)美国贡萨加大学毕业证学历证书一模一样
学校原件一模一样【微信：741003700 】《(GU毕业证书)美国贡萨加大学毕业证学历证书》【微信：741003700 】学位证，留信认证（真实可查，永久存档）原件一模一样纸张工艺/offer、雅思、外壳等材料/诚信可靠,可直接看成品样本，帮您解决无法毕业带来的各种难题！外壳，原版制作，诚信可靠，可直接看成品样本。行业标杆！精益求精，诚心合作，真诚制作！多年品质 ,按需精细制作，24小时接单,全套进口原装设备。十五年致力于帮助留学生解决难题，包您满意。
本公司拥有海外各大学样板无数，能完美还原。
1:1完美还原海外各大学毕业材料上的工艺：水印，阴影底纹，钢印LOGO烫金烫银，LOGO烫金烫银复合重叠。文字图案浮雕、激光镭射、紫外荧光、温感、复印防伪等防伪工艺。材料咨询办理、认证咨询办理请加学历顾问Q/微741003700
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四.办理各国各大学文凭(一对一专业服务,可全程监控跟踪进度)
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◇在校期间，因各种原因未能顺利毕业……拿不到官方毕业证【q/微741003700】
◇面对父母的压力，希望尽快拿到；
◇不清楚认证流程以及材料该如何准备；
◇回国时间很长，忘记办理；
◇回国马上就要找工作，办给用人单位看；
◇企事业单位必须要求办理的
◇需要报考公务员、购买免税车、落转户口
◇申请留学生创业基金
留信网认证的作用:
1:该专业认证可证明留学生真实身份
2:同时对留学生所学专业登记给予评定
3:国家专业人才认证中心颁发入库证书
4:这个认证书并且可以归档倒地方
5:凡事获得留信网入网的信息将会逐步更新到个人身份内，将在公安局网内查询个人身份证信息后，同步读取人才网入库信息
6:个人职称评审加20分
7:个人信誉贷款加10分
8:在国家人才网主办的国家网络招聘大会中纳入资料，供国家高端企业选择人才
The state of welfare Resolution Foundation Event
How has Britain’s safety net changed since 2010 and what comes next?
在线办理(UMASS毕业证书)马萨诸塞大学阿默斯特分校毕业证完成信一模一样
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University of North Carolina at Charlotte degree offer diploma Transcript
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留信网认证的作用:
1:该专业认证可证明留学生真实身份
2:同时对留学生所学专业登记给予评定
3:国家专业人才认证中心颁发入库证书
4:这个认证书并且可以归档倒地方
5:凡事获得留信网入网的信息将会逐步更新到个人身份内，将在公安局网内查询个人身份证信息后，同步读取人才网入库信息
6:个人职称评审加20分
7:个人信誉贷款加10分
8:在国家人才网主办的国家网络招聘大会中纳入资料，供国家高端企业选择人才
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Sources of finance
- 1. 1
- 2. Introduction It is rightly said that finance is the life-blood of business. No Business can be carried on without source of finance. There are several sources of Finance and as such the finance has to be raised from the right kind of source.
- 3. Sources Of Finance Security Internal Loan Financing Financing Financing Equity Shares Short- Retained Earnings Term Preference Shares Long- Depreciation Term Fund Debentures
- 4. Long Term Source of Finance • Long term sources of finance are those that are needed over a longer period of time - generally over a year. • Long term finance may be needed to fund expansion projects • It's Types Are:- Share,Debenture,Venture Capital, Government Grant, Bank Loan Mortgage, Owner Capital, Internal Accrual.
- 5. Need for long term Finance • Long term vs. short term(working capital) funds requirements • For modernization, expansion, diversification; huge quantities reqd., irreversible decision • Asset-liability mismatch, interest rate risk, liquidity risk.
- 6. Equity Share Capital Preference Share Capital Authorized, Issued, Is a hybrid form of financing, Subscribed and Paid up capital payment after debt but before equity Par/face value, Issue Price, Book value and Market Value Equity features: out of distributable profits not an obligatory payment Rights of equity shareholders dividends not tax deductible Right to Income :PAT less Debt features: preferred dividends dividend rate is fixed capital is redeemable Right to Control: voting no right to vote rights
- 7. DEBENTURES • Just like shares, DEBENTURES are also instruments for raising long term finance • “Debenture is a document that either creates a debt or acknowledges it, & is a debt without collateral” • Attributes:- Interest rates Convertibility Security Redemption Credit rating & Trustee Debenture redemption reserve
- 8. Term Loan • Term loan also known as term finance is loan made by a bank/financial institution to a business having an initial maturity of more than 1 yr and generally repayable in less than 10 yrs. • Features of Term Loans • Maturity • Negotiated • Security • Covenants – Negative & Positive • Repayment Schedule/Loan Amortization
- 9. • Evaluation – Low Cost & High Risk • Term Loan Procedure • Project Appraisal • Market Appraisal • Technical Appraisal • Financial Appraisal • Managerial Appraisal
- 10. Securitization Process Credit Contracts Obligors Ongoing cash flows Enhancement Initial cash flows Providers Collections Credit enhancement Original Issue of securities Loan Cash flows Servicing Collection SPV of securities Investors Sale of Agent asset Rating Subscription to securities Originator Rating Agency Structurer
- 11. Leasing vs. Hire Purchase Leasing Hire-Purchase •Ownership not transferred to buyer •Ownership transferred to hirer on payment of all installments •Depreciation benefit to lessor •Depreciation shield available to •Magnitude of funds high, for big hirer ticket items •Maybe for smaller value capital goods •No margin money/down payment required •Some down payment required •Maintenance of asset by lessor in operating lease •Maintenance cost borne by hirer
- 12. Other Sources Of Long Term Finance • Initial Public Offer (IPO) • Securitization • Government Subsidies/Grant • Supplier’s Credit • Private Placement • Venture Capital/ Private Equity • Bank Loan • Mortgage