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 busines…

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Aryan · Answer 1 · 2021-11-11T13:27:58+0000

Answer:

Hire Purchase

Loans from friends

Step-by-step 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

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 busines…

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