Business / Debt / Loan: An advance of money from a lender to a borrower over a period of time. The borrower is obliged to repay the loan either at intervals during or at the end of the loan period together with interest.

Other Words for Loan

Loan Verb Synonyms: advance, allowance, credit, accommodation

Savings And Loan Association (S and L)

Business / Real Estate / Savings And Loan Association (S and L): A financial institution whose principal function is to promote thrift and home ownership. Depositors earn interest on their deposits, often at a higher rate than is offered at commercial banks. The S& MORE

Beneficial Loan

Business / Debt / Beneficial Loan: A loan made by an employer to an employee on which interest is either not charged or is less than the official rate. The difference between the interest charged and the official rate is taxable. MORE

Discounted Loan

Business / Debt / Discounted Loan: A loan on which the interest and financing charges are deducted from the face amount when the loan is issued. MORE

Unsecured Loan

Business / Debt / Unsecured Loan: An unsecured loan is a loan where the lender has no entitlement to any of the borrower's assets in the event of the borrower failing to make the loan repayments. Such a loan normally carries a higher MORE

Computerized Loan Origination (CLO) System

Business / Real Estate / Computerized Loan Origination (CLO) System: An electronic network for handling loan applications through remote computer terminals linked to various lenders computers. MORE

Purpose Loan

Business / Finance / Purpose Loan: A loan that is backed by securities and that is used to buy other securities under certain government regulations. MORE