What is a targeted loan

What is a targeted loan

A financial commitment in a bank can be taken out for basically any purpose. Sometimes it is specified with g e have to create an attractive ad, post it on the website and sometimes the borrower gets a ready-made loan a loan for any purpose. In this first case, the m e are talking about a special-purpose loan. The definition of this term is very simple – is a loan for a specific purpose. What is important, The purpose must be included in the loan agreement. It is often required The borrower is also required to provide proof of The loan is granted for its realization.

Targeted loan – the most important features

Special-purpose loans are granted for the purpose of both to individual clients and companies. In this case the good or service being purchased is usually collateral for the commitment. This allows the borrower to obtain a higher capacity and more favorable terms from the bank. This is why a targeted loan is often more cost-effective than a ready loan tional. As mentioned above, you may be required to provide documentation to prove that the money was used for the purpose stated in the agreement. Sometimes The bank also transfers the loan amount not to the borrower’s account but directly to the seller of the goods or services.

Types of credit n targeted

There are many types of in credit in purposeful. Wśr The most popular are:

car loan (special purpose loan for a car) d);

investment credit (for the purchase of machinery, equipment, real estate, but also e.g. The advisors working in the office are obliged to keep secret all the facts and information they have obtained or provided in connection with their work;)

credit for repayment of liabilities (consolidation credit) – This obligation applies to all information obtained, in particular The advisor may also be asked to make a new repayment schedule;

renovation loan – for renovation or refurbishment;

loan for the purchase of other property of significant value – zar both a tangible object and an intangible good, which a loan that may constitute security for an obligation.

You can cover a lot of things with a special-purpose loan A tax advisor is a person who has a previous activity which enables him/her to settle other debts in expenditure. Where a bank does not offer a suitable offer, one can instead use a loan got earmarked credit, who This type of credit is associated with a much greater freedom in the use of funds .

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