Answer:
a commercial bank
Explanation:
A loan can be defined as an amount of money that is being borrowed from a lender and it is expected to be paid back at an agreed date with interest.
Generally, a financial institution such as a commercial bank lending out the sum of money would request that the borrower provides a collateral, which would be taken over in the event that the borrower defaults (fails) in the repayment of the loan.
In this scenario, Glenn and Maggie need a loan to reach their goal of one hundred twenty five shops.
Hence, the type of banking institution which is most suitable for Glenn and Maggie’s business is a commercial bank.
Business banking can be defined as the financial services such as business loans, cash management, lines of credit, trade finance, savings and checking accounts, tax planning, and securities trading provided by a commercial bank to business entities, corporations or companies.
In conclusion, a business bank such as a commercial bank is only focused on providing financial services to big businesses or corporations rather than individuals.
A commercial bank is the type of banking institution best suited for Glenn and Maggie's business, as it is an institution capable of providing adequate financial services for the expansion strategy of their juice bar chain.
It provides several financial services to companies capable of managing investments such as long-term deposit funds, in addition to offering current accounts and loans essential for the flow of business.
Therefore, a commercial bank can help Glenn and Maggie achieve their expansion strategy through financial assistance and investment management so that the business achieves economic stability and market positioning.
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