A Loan is…

June 17th, 2009

A loan is an agreement between two people where you lend money or property to someone with the understanding that it will be paid back at a later date (usually with interest). People generally take out loans so they can afford large purchases – such as a house or car – or to start a business. On the other hand, people make loans as a way to earn interest on their capital (or extra funds on hand).

Tags: ,

Leave a Comment

All comments are moderated before being displayed.