Glenn and Maggie own a regional chain of juice bars and are looking to expand in the coming year. They already have fifty shops, but they know they will need a loan to reach their goal of one hundred twenty five shops. Which type of banking institution is most suitable for Glenn and Maggie’s business?

Commercial banks are financial institutions whose functions, among many, are: offering banking services to individuals, groups and companies, to make profit. One of the roles performed by these types of financial institutions is to credit loans to individuals, small businesses, and other groups, and as such, they are the first line to which a small business, such as the one controlled by Glenn and Maggie, would go to, to request a loan to be able to open up their other branches. This bank would give them the loan and allow them to make profit, without having any ties to the banking institution, just as long as they return the investment given to them.

Cricetus Cricetus · Answer 2 · 2021-10-21T17:02:36+02:00

A "commercial bank" is most suitable for Glenn and Maggie’s business. A further explanation is below.

A financial organization generally includes commercials, provides trying to check account management, originates different loans, as well as provides entrepreneurs and business companies with basic investment instruments such as certifications of term deposit funds.
Its mission should be to provide financial services around the world as well as businesses while also guaranteeing economic stability.

Thus the above answer is correct.

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