What is credit

What is credit?

Credit is money granted or goods supplied by a lender or creditor to a borrower or debtor, who defers payment of the debt.

In exchange for the credit, the lender or the creditor gets back the money, usually on agreed due dates. The debtor gets the use of the money to pay for and take possession of goods today and the creditor gets back more money that he loaned out or goods supplied.

Today's business environment is dependent upon credit to generate sales; it enables business people to acquire the necessary money and goods they want for stability, growth and expansion, but cannot afford to pay for right away.

I want help FreeAdvice

Please contact Alvin For Advertising & Sponsorship Information

FINMART FreeAdvice® is the leading business advisory site for business people doing business in Malaysia. It provides advice relating to most common business problems and to help business people to understand the way how business should be properly conducted, but is not a substitute for personal business advice from the respective professional and experts. You are welcome to view FINMART FreeAdvice® for your own personal, non-commercial purposes, and subject to our legal disclaimer and conditions of use.