Multiple Choice
Bank of Linsdon lends $1,000,000 to SBC Techno Inc. with an understanding that the company will need to repay the loan in monthly installments of $25,000. SBC Techno Inc. successfully makes the monthly payments for two consecutive years. However, due to a financial crisis, it faces cash flow problems and eventually stops paying the installments. In this scenario, Bank of Linsdon is said to have a(n) _____.
A) user-disposal loan
B) non-performing loan
C) unverified loan
D) payday loan
Correct Answer:
Verified
Correct Answer:
Verified
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