Business / Loan / Loan Consolidation: The combining of a number of loans into a single new loan. Consolidation typically extends your repayment period and lowers your monthly payments, thereby greatly increasing the amount of interest you pay over the life of your loan.
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Loan Verb Synonyms: advance, allowance, credit, accommodation
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Business / Finance / Parallel Loan: A process whereby two companies in different countries borrow each other's currency for a specific period of time, and repay the other's currency at an agreed maturity for the purpose of reducing fore MORE
Business / Finance / Participation Loan: A large loan made by a group of lenders, that enables a borrower to obtain financing above the legal lending limit of an individual lender. MORE
Business / Debt / Personal Loan: Loans available from banks and other financial institutions to private individuals for personal use such as the purchase of a motor vehicle, holiday or similar item are personal loans. Repayment perio MORE
Business / Real Estate / Piggyback Loans: A loan divided into two parts with one lender taking a secondary security position. MORE
Business / Real Estate / Package Loan: A real estate loan used to finance the purchase of both real property and personal property, such as in the purchase of a new home that includes carpeting, window coverings and major appliances. MORE
Business / Loan / Open-End Loan: A loan that permits the borrower to draw money from time to time up to a credit limit. A home equity line of credit (HELOC) is an open-end loan secured by a home. MORE