Forward Forward

It sounds like a desperate, sputtering military commander imploring his troops to attack. But it actually refers to a loan transaction that is set to take place some time in the future.

You need money, but you don't need it right now. It's winter, but come summer, you plan an expansion of your surf shop, so you're going to need some funds come May. However, you'd like to lock in rates and get the negotiating out of the way, so you'll be ready to go when the time comes.

Time for a forward forward. You sign loan documents with United Capital of Ocean City. Under the forward forward agreement, they will give you the check three months from now. You'll pay them back, with a little additional cash to compensate them for lending you the money...next October, after your peak season is over.