Graves will advance an unsecured loan of £1m to Yorkshire if the takeover goes through and arrange further funding of up to £4m if certain appointments to the new board are approved. FromBBC Amazon.com Inc said on Tuesday it had reached an agreement with certain lenders to provide the...
Unsecured Loan means any Loan other than a Secured Loan. Other Loans means one or more Classes of Loans that result from a Refinancing Amendment or a Loan Modification Agreement. Permitted Loans means: Outstanding Advances means, with respect to a Receivable and the last day of a Collection Per...
1.An instance of lending:a bank that makes loans to small businesses. 2. a.A sum of money that is lent, usually with an interest fee:took out a loan to buy a car; repaid the loan over five years. b.The agreement or contract specifying the terms and conditions of the repayment of ...
Secured loan definition: a loan that is backed up by collateral pledged by the borrower, which the lender can sell to cover repayment of the loan if for any reason the borrower is unable to do so. See examples of SECURED LOAN used in a sentence.
Unsecured loans These are not secured by assets. If there is a default, the lender will not have automatic access to an asset. For the bank, unsecured lending is riskier. Hence, interest rates are generally quite high. Examples of unsecured loans include credit cards, student loans, and pers...
The main advantage of an unsecured loan is that you don’t have to pledge collateral. But if you default on the loan, you could still face serious consequences, like major damage to your credit. Plus, a lender could take you to court to garnish your wages. ...
loan (lōn) n. 1. An instance of lending: a bank that makes loans to small businesses. 2. a. A sum of money that is lent, usually with an interest fee: took out a loan to buy a car; repaid the loan over five years. b. The agreement or contract specifying the terms and condi...
More Definitions ofUnsecured Loan Facility Unsecured Loan Facilitymeans that certainsenior unsecuredrevolving credit andterm loan facilityfor the Companyand BPAC Texas, L.P., a Delawarelimited partnership("BPAC Texas"), in anaggregate principal amountof up to $270,000,000 to be arranged and syndi...
Types of Personal Loans Personal loans may besecuredorunsecured. A secured personal loan requires some type of collateral as a condition of borrowing. For instance, you may secure a personal loan with cash assets, such as a savings account orcertificate of deposit (CD), or with a physical as...
Nonaccrual loan is an accounting term in the lending industry for anunsecured loanthat is no longer generating its stated interest rate because no payment has been made by the borrower for 90 days or more. For a lender in business to earn interest, it has become anonperforming loan(NPL). ...