{"id":7374,"date":"2023-09-19T16:23:08","date_gmt":"2023-09-19T16:23:08","guid":{"rendered":"https:\/\/testedwebsite.cloud\/bullseye\/?p=7374"},"modified":"2024-11-19T00:11:37","modified_gmt":"2024-11-19T00:11:37","slug":"the-difference-between-loans-and-debentures","status":"publish","type":"post","link":"https:\/\/testedwebsite.cloud\/bullseye\/the-difference-between-loans-and-debentures\/","title":{"rendered":"The Difference Between Loans And Debentures Business Finance Experts"},"content":{"rendered":"<p><img decoding=\"async\" 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\" width=\"604px\" alt=\"difference between debenture and loan\"\/><\/p>\n<p><p>When you take out a mortgage to buy a home or a Commercial Mortgage to buy a factory, the property itself is securing the loan. Options trading entails significant risk and is not appropriate for all customers. Customers must read and understand the Characteristics and Risks of Standardized Options before engaging in any options trading strategies. Options transactions are often complex and may involve the potential <a href=\"https:\/\/cryptolisting.org\/blog\/difference-between-debenture-and-loan\">difference between debenture and loan<\/a> of losing the entire investment in a relatively short period of time.<\/p>\n<\/p>\n<p><p>11 Financial may only transact business in those states in which it is registered, or qualifies for an exemption or exclusion from registration requirements. 11 Financial\u2019s website is limited to the dissemination of general information pertaining to its advisory services, together with access to additional investment-related information, publications, and links. Consequently, businesses must meticulously evaluate these merits and demerits to make informed decisions that align with their financial goals and risk tolerance. Debentures can be either secured or unsecured, influencing investor confidence and interest rates.<\/p>\n<\/p>\n<p><h2>Interest rate<\/h2>\n<\/p>\n<div style='text-align:center'><iframe width='560' height='319' src='https:\/\/www.youtube.com\/embed\/t6MSQBZfZqM' frameborder='0' alt='difference between debenture and loan' allowfullscreen><\/iframe><\/div>\n<p><p>The business borrowing the money would repay the full $1,000,000 on January 31, 2030. In the company\u2019s fiscal year that includes January 31, 2030, the loan amount of $1,000,000 would appear on the balance sheet under the current portion of long-term debt. In the event of bankruptcy or liquidation, debentures are paid after secured debt, but  take priority over common and preferred shares.<\/p>\n<\/p>\n<p><p>Interest payments received from debentures are generally taxable as income for the debenture holder. On the other hand, interest paid on loans may be tax-deductible for the borrower, depending on the purpose of the loan and applicable tax laws. It is important to consult with a tax professional to understand the specific tax implications of debentures and loans in your jurisdiction. Regular debentures act as loans against the company, which make&nbsp;the owner of the debenture a creditor with preferred status&nbsp;in case of liquidation. This means debenture stockholders are put in a position behind debentures and all other forms of debt for liquidation  purposes. Debenture stockholders are entitled to dividend payments at fixed intervals.<\/p>\n<\/p>\n<p><h2>Risk and Return<\/h2>\n<\/p>\n<p><p>Once issued, the terms and conditions of debentures are fixed and cannot be easily modified. The issuer must adhere to the agreed-upon repayment schedule and interest payments. Borrowers and lenders can negotiate various terms, such as repayment schedules, interest rates, and even the possibility of early repayment without penalties. This flexibility allows borrowers to tailor the loan to their specific needs and financial situation. Debentures and loans are two common forms of borrowing for individuals and businesses.<\/p>\n<\/p>\n<p><h2>Why You Can Trust Finance Strategists<\/h2>\n<\/p>\n<p><p>Debenture holders would also be considered more senior and take priority over those other types of investments in the case of bankruptcy. With a bank loan, an entity borrows money from a financial institution, while with a debenture, a government or business borrows money from members of the public. Bank loans usually require the borrower to put up some collateral, whereas debentures don\u2019t. Debentures can be sold to other parties, while bank loans usually can\u2019t be transferred. Nonconvertible debentures are those that can\u2019t convert into stock.<\/p>\n<\/p>\n<p><p>As a debt instrument, a debenture is a liability for the issuer, who is essentially borrowing money via issuing these securities. In the secondary market through a financial institution or broker, investors can buy and sell previously issued bonds. T-bonds are nearly risk-free since they&#8217;re backed by the full faith and credit of the U.S. government. However, they also face the risk of inflation and interest rates increase.<\/p>\n<\/p>\n<p><img decoding=\"async\" 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width=\"601px\" alt=\"difference between debenture and loan\"\/><\/p>\n<ol>\n<li>To do so, it can issue debentures of $100 each (i.e., 10,000 debentures will be issued).<\/li>\n<li>Investors rely only on the trustworthiness and credit rating of the company or government issuing the bond.<\/li>\n<li>Most often, it is as redemption from the capital, where the issuer pays a lump sum amount on the maturity of the debt.<\/li>\n<li>Meanwhile, shares are the company\u2019s obligation to shareholders; their value is recorded in the shareholders\u2019 equity section of the balance sheet.<\/li>\n<li>A debenture\u2019s interest rate can be fixed, meaning it doesn\u2019t change over the life of the bond.<\/li>\n<\/ol>\n<p><p>Debentures do not require collateral and can be transferred between parties, whereas loans usually require collateral and are non-transferable. Debentures are the most common form of long-term debt instruments issued by corporations. A company will issue these to raise capital for its growth and operations, and investors can enjoy regular interest payments that are relatively safer investments than a company&#8217;s equity shares of stock. It\u2019s only when the lender enforces the debenture that the floating charge \u2018crystallises\u2019 and effectively becomes a fixed charge.<\/p>\n<\/p>\n<p><p>Depending on the terms, debentures can be placed in a more senior position than other unsecured loans. Debentures are long-term loans and generally have a maturity date of five to ten years. Since they\u2019re unsecured, the issuer typically offers a higher interest rate than they would pay for a secured loan or bond. Imagine that the fictional Rivertown is preparing to build a new town hall.<\/p>\n<\/p>\n<div style='text-align:center'><iframe width='562' height='317' src='https:\/\/www.youtube.com\/embed\/SGClo596RVw' frameborder='0' alt='difference between debenture and loan' allowfullscreen><\/iframe><\/div>\n","protected":false},"excerpt":{"rendered":"<p>When you take out a mortgage to buy a home or a Commercial Mortgage to buy a factory, the property itself is securing the loan. Options trading entails significant risk&#8230;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[100],"tags":[],"class_list":{"0":"post-7374","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-cryptocurrency-service"},"post_mailing_queue_ids":[],"_links":{"self":[{"href":"https:\/\/testedwebsite.cloud\/bullseye\/wp-json\/wp\/v2\/posts\/7374","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/testedwebsite.cloud\/bullseye\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/testedwebsite.cloud\/bullseye\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/testedwebsite.cloud\/bullseye\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/testedwebsite.cloud\/bullseye\/wp-json\/wp\/v2\/comments?post=7374"}],"version-history":[{"count":1,"href":"https:\/\/testedwebsite.cloud\/bullseye\/wp-json\/wp\/v2\/posts\/7374\/revisions"}],"predecessor-version":[{"id":7375,"href":"https:\/\/testedwebsite.cloud\/bullseye\/wp-json\/wp\/v2\/posts\/7374\/revisions\/7375"}],"wp:attachment":[{"href":"https:\/\/testedwebsite.cloud\/bullseye\/wp-json\/wp\/v2\/media?parent=7374"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/testedwebsite.cloud\/bullseye\/wp-json\/wp\/v2\/categories?post=7374"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/testedwebsite.cloud\/bullseye\/wp-json\/wp\/v2\/tags?post=7374"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}