The loan is the transfer of a sum of money with the constraint of the return of capital equal or greater value. The term loan means essentially a loan of money that an institution or company authorized credit (such broker or dealer ) or a private person gives to a person. The constituent elements of a loan are: capital funding, the annual rate of interest (TAN), the annual percentage rate (APR), the duration of the loan, the amount and Frequency of repayments or installments , conditions.
The assignment of a loan is made after a series of preliminary checks that the broker is running in accordance with economic and professional of the applicant, exams that allow them to assess the safety and avoid abusive situations of insolvency.
This funding may be requested and paid for different purposes: to buy consumer goods (car, house, furniture, household appliances, clothes, etc..), to restructure its home (building) to pay off other debts or purely to have an immediate availability of cash (loans liquidity ).
The loan can be finalized and not been finalized. The main feature that distinguishes the two types of loan-subsidy is based on the method of delivery and consequently to the repayment of money itself: in the case of special-purpose loans, the customer is obligated to purchase a commodity, however, specifying the purpose of the loan and putting necessarily know the school funding, while in the case of loans not finalized the client has no commitment as to use and is free to dispose of the amount required to borrow more freedom of action.
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