Comparison should include
- defining the terms
- percentage rates
- annual fees
- transaction fees
- risk-based lending
- finance charge
- identifying sources of credit (e.g., banks, credit unions, finance companies, farm credit, credit cards)
- identifying the different types of credit (e.g., open- and closed-ended, service credit, secured and unsecured loans)
- identifying the differences among credit institutions
- evaluating options
- assessing the possibility of refinancing
- exploring the role of the U.S. Department of Agriculture (USDA) Farm Service Agency (FSA) in the agricultural community.
Process/Skill Questions:
- What are some differences among credit institutions?
- How does one determine the best source of credit to use?