what is bank loan,help plz~thank u

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November 5, 2011 at 3:39 am #50347
antido
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“security is likely to be in the form of floating charge over the company’s assets”,this sentence confused me.it is from the Qestion of what is the bank loan.Any body come up to any ideas?
November 6, 2011 at 4:12 pm #89374
John Moffat
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A floating charge means that if the company does not repay the bank loan, then the bank is entitled to take any of the assets in order to get the money. (As opposed to a fixed charge which is when the load is given secured on a specific asset)
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