Funding Dictionary

Debt Term

Credit Union

A credit union provides services similar to a bank, but is different in ownership: a credit union’s customers are also its owners. It is also “not-for-profit” in that any profit earned is used to help sustain and grow...

Debt Term

Finance charges

Another name for the fees charged by banks and other financial institutions is finance charges. Examples include the monthly interest charges on a loan or credit care, late charges for paying after the due date on a...

Grant term

SBIR

SBIR grants and contract are the largest pool of funding for small US businesses that does not require any type of repayment. More than 5,000 SBIR grants and contracts are given annually for a total of about $2.5...

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