An offsetting balance. A requirement by some banks that a borrower maintain a minimum balance in a checking or savings account as a condition of granting a loan. The offsetting balance increases the effective interest rate to the bank since the net amount loaned is reduced but the interest paid is unchanged.
Laura Wilkinson received the gold medal for 10-meter platform diving in spite of going into the last set of dives in fifth place and having three broken bones in one foot. The interesting thing abo... [ more... ]
You've seen those statistics that say 3 out of 5 small businesses give up within 5 years. The number one reason small firms give for closing shop is "we ran out of money for advertising."... [ more... ]