Gross Income Financial Glossary

What is it? For loan qualifying purposes, the income of the borrower before taxes or expenses are deducted.

Finance Term Definition Added By: Sean

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Other Similar Finance Terms:

Financial Term Pensioner is A person who has retired and receives an income from a pension scheme.

Financial Term Average Daily Balance is The average dollar amount that resides in an account over a specific period of time. The formula for calculating the Average Daily Balance is accomplished by adding the daily balances over a period of time and dividing by the total number of days in that period.

Financial Term permanent working capital is An informal phrase used to describe the amount of short-term liabilities needed to offset a continuous or nearly continuous working capital shortfall. Also used as a name for a borrowers need for year-round working capital financing. This type of financing is usually needed by rapidly growing and/or undercapitalized firms and is usually provided by asset-based lenders.

Financial Term Capital Fund is A reserve that is set aside to fund future spending on assets.

Financial Term PLC is Public Limited Company. A company that has shares available for the public to buy.