Financing a loan. If you want to buy something, but you have not enough money, you can obtain a loan

If you want to buy something, but you have not enough money, you can obtain a loan. borrowing intelligently requires an understanding of three basic steps to negotiate a loan. Firstly, you should compare loan sources. Secondly, it's necessary to compute interest. Thirdly, you should determine repayment time.

Loans for major purchases can be obtained from credit, unions, banks, finance companies. So, if all other factors are equal, your choice will depend on which source will charge the lowest rate of interest.

Also before borrowing money, you should understand the two basic methods of figuring interest - simple and compound. Using the simple interest method, the borrower repays the principal - the amount borrowed - and interest in one single payment to the lender. And compound interest is the add-on method. Payments are broken into even parts and portion of interest and principal is paid back each month.

23. “H&G Ltd.” The history of the company. The company’s structure and development.

The company of Harper & Grant Ltd. was started forty-two years ago by two men: Ambrose Harper and Wingate Grant. Wingate Grant died many years ago, and his son Hector, who is in his fifties is the present Managing Director, Ambrose Harper is the Chairman. He is now an old man, semi-retired, but he still comes in to the office regularly to attend the board meetings and keep an eye on the business.

The company started by making steel wastepaper bins for offices. With the increase in smoking, these were considered much safer than the old type of basket made of cane and straw, because they were less likelihood of fire. Old Mr. Grant, the Managing Director's father, put the business on its feet when he captured a big contract to supply government offices with steel wastepaper bins. He always said that luck, or happy coincidence, turned a business into success or failure. He was rather like Napoleon, who always asked if an officer was lucky before giving him a higher command. Mr. Grant Senior used to tell the story that, in the week before he landed his contract, a • cane wastepaper basket had caught fire in a government department, the fire had spread rapidly and destroyed a number of irreplaceable documents.

From wastepaper bins, Harper & Grant began to manufacture other items of office equipment: desks, chairs, cupboards, filling cabinets and smaller objects, such as filing cabinets, stapling machines and so on, until now when there are fifty-six different items listed in their catalogue. Today, nearly all the items produced by this company are made of pressed steel. The steel arrives in sheets from a steel works in South Wales. It is then cut by machinery into the required pieces; these pieces are then pressed into shape and fixed together by welding (joining two metal parts by heating so that the metals flow together), or by drilling holes in the metal and securing the two pieces with a bolt or a rivet.

Harper & Grand is a forward looking company. So John Martin, the Sales Manager, is looking for new markets because he thinks that they can’t live on old markets for ever. John suggests HG his scheme to sell their product to Abraca. It is a newly independent country and income per capita is rising fast there. HG didn’t want to repeat their unsuccessful experiment of trying to break into American market. He wanted to avoid the expenses of sending John there and filed survey. But Mr. Martin felt strongly about this and HG decided to send him there.

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