Based on the types of collateral:
1. Secured loans
A secured loan is a loan in which the borrower pledges some asset (e.g. a car or property) as collateral for the loan.
2. Unsecured Loans
Unsecured loan is a loan that is not in a back-up in law by the type of collateral as the secured loan on top.
Based on the period:
1. Short-Term Credit
Credit for the period of not more than 1 (one) year from the loan. The use of general purpose loans for working capital.
2. Long-Term Credit
Credit for the period of more than 1 (one) year from the loan. The use of general purpose loans to finance investment company or a particular project.
Loan based on the types of collateral & periods is posted on February 22nd, 2010 by admin. This post is filed under: Uncategorized .
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