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Across 4. Getting a bank loan or line of credit can be time consuming. You’ll need to show that you have a history of paying back debt. The bank will want to see a business plan and financial forecast. 10. Protection that compensates you if your home gets damaged during a covered incident. 11. Amount that is borrowed and must be paid back. 15. A lump sum of money that you borrow and repay in payments or installments over a period of time, usually months or years. 20. The ability of a customer to obtain goods or services before payment, based on the trust that payment will be made in the future. 22. The amount you are charged if you fail to meet the minimum payment by the due date. This amount is automatically applied to your account. 23. Something, typically money, that is owed or due. 25. Required payment to your local government. 26. A legal arrangement in which a third party temporarily holds money or property until a condition has been met

Down 1. A person or institution that owes a sum of money. 2. The least amount of money you must pay each month to keep your account current. 3. A person who guarantees the loan for the original borrower and is responsible for paying back the loan if the original borrower defaults. 5. A financial institution that offers loans to consumers. Examples: auto dealers, commercial banks, credit unions. 6. An asset that the borrower offers as a guarantee for a loan. 7. A loan that is backed by something (collateral) the lender can take if the borrower defaults. 8. The process of spreading out payments over time. 9. The cost of borrowing the principal amount. 12. Settlement costs and fees you pay the lender in exchange for finalizing your loan. 13. The amount of time between the last statement closing date and the next. This must be at least 21 days. 14. The yearly fee charged for holding a credit card. You pay this whether you carry a balance or not 16. The amount of time between the end of a billing cycle and when your bill is due. 17. A legal proceeding that relieves you of the responsibility of paying debts or provides you with protection while attempting to repay your debts. 18. A document sent within a company (internal), presented in short form 19. The ability of a customer to obtain goods or services before payment, based on the trust that payment will be made in the future. 21. The amount of money you owe on your credit card bill. 24. The end result of something a person intends to acquire, achieve, do, reach, or accomplish sometime in the future.