Loans definition: Copy, customize, and use instantly
Introduction
The term "Loans" refers to the act of lending money or resources with the expectation of repayment, usually with interest, over a specified period. It is critical in contracts involving financial agreements, clarifying the terms of lending, repayment schedules, interest rates, and collateral requirements.
Below are various examples of how "Loans" can be defined in different contexts. Copy the one that fits your needs, customize it, and use it in your contract.
Definition of "Loans" as secured lending
This definition ties "Loans" to lending where collateral is provided.
"Loans" means funds provided by a lender to a borrower, secured by collateral, where the borrower is obligated to repay the amount borrowed along with interest as specified in the loan agreement.
Definition of "Loans" as unsecured lending
This definition connects "Loans" to lending without collateral.
"Loans" refers to funds lent to a borrower without the requirement for collateral, with the borrower agreeing to repay the principal along with any interest as set forth in the agreement.
Definition of "Loans" as short-term loans
This definition links "Loans" to short-term borrowing arrangements.
"Loans" means funds provided for a short period, typically less than one year, to address immediate financial needs, with repayment terms and interest rates agreed upon between the borrower and lender.
Definition of "Loans" as long-term loans
This definition applies "Loans" to extended borrowing periods.
"Loans" refers to funds lent for a longer duration, typically exceeding one year, where the borrower agrees to repay the loan over an extended term with interest, as per the terms of the agreement.
Definition of "Loans" as revolving credit
This definition ties "Loans" to a line of credit that can be reused.
"Loans" means a revolving line of credit extended to the borrower, allowing them to borrow, repay, and borrow again up to a predetermined limit, with interest charged on the outstanding balance.
Definition of "Loans" as installment loans
This definition connects "Loans" to loans repaid in regular installments.
"Loans" refers to funds borrowed by a party, which are to be repaid in fixed periodic installments, typically monthly, with interest calculated based on the outstanding balance.
Definition of "Loans" as fixed-rate loans
This definition links "Loans" to lending with a fixed interest rate.
"Loans" means funds provided with a fixed interest rate, where the borrower is obligated to repay the principal and interest over time according to an agreed schedule, with no changes to the rate during the loan term.
Definition of "Loans" as variable-rate loans
This definition applies "Loans" to lending with an adjustable interest rate.
"Loans" refers to loans with an interest rate that can change periodically based on market conditions, with repayments subject to adjustments in the interest rate throughout the loan term.
Definition of "Loans" as bridge loans
This definition ties "Loans" to temporary loans for bridging a gap in financing.
"Loans" means short-term loans provided to bridge the gap in financing between the borrowing party's immediate financial needs and the availability of long-term funding, typically repaid once long-term financing is secured.
Definition of "Loans" as payday loans
This definition connects "Loans" to high-interest, short-term loans.
"Loans" refers to short-term, high-interest loans typically due for repayment on the borrower’s next payday, intended to cover immediate personal expenses until the borrower receives their next income.
Definition of "Loans" as student loans
This definition links "Loans" to financial assistance for education.
"Loans" means funds provided to students or their families to finance education expenses, with repayment typically deferred until after graduation, including interest rates and terms as specified by the lending institution.
Definition of "Loans" as business loans
This definition applies "Loans" to financing for business purposes.
"Loans" refers to funds borrowed by a business to finance operations, growth, or capital improvements, typically with terms related to repayment schedules, interest, and the financial condition of the borrower.
Definition of "Loans" as government loans
This definition ties "Loans" to loans provided by government entities.
"Loans" means financial assistance extended by a government agency to support specific economic objectives, such as business development, housing, or education, with favorable terms, such as low interest or deferred payments.
Definition of "Loans" as peer-to-peer loans
This definition connects "Loans" to lending between individuals through online platforms.
"Loans" refers to funds lent directly from individual lenders to borrowers, typically facilitated by online platforms, where the terms, including interest rates and repayment conditions, are agreed upon by the parties involved.
Definition of "Loans" as collateralized loans
This definition links "Loans" to borrowing where assets are pledged as security.
"Loans" means funds borrowed against specific assets, where the borrower pledges collateral, such as real estate or equipment, to secure the loan, and may face forfeiture if the loan is not repaid.
Definition of "Loans" as personal loans
This definition applies "Loans" to individual borrowing for personal use.
"Loans" refers to funds provided to individuals for personal purposes, such as consolidating debt, funding a purchase, or covering personal expenses, with repayment terms and interest rates set by the lender.
Definition of "Loans" as credit union loans
This definition ties "Loans" to lending by credit unions.
"Loans" means funds provided by a credit union to a member, typically with lower interest rates and favorable terms compared to other financial institutions, for personal, business, or other qualifying purposes.
Definition of "Loans" as auto loans
This definition connects "Loans" to loans specifically for purchasing vehicles.
"Loans" refers to funds lent to an individual or business for the purchase of an automobile, with repayment terms based on the price of the vehicle and the borrower’s creditworthiness.
Definition of "Loans" as mortgage loans
This definition links "Loans" to home financing.
"Loans" means funds provided to a borrower to purchase real estate, secured by the property being financed, with a repayment schedule and interest terms determined by the lender and the borrower.
Definition of "Loans" as revolving loans
This definition ties "Loans" to credit facilities that can be borrowed from and repaid repeatedly.
"Loans" means funds extended to a borrower that can be drawn upon, repaid, and borrowed again up to a certain credit limit, typically under agreed-upon interest rates and terms.
Definition of "Loans" as corporate loans
This definition connects "Loans" to loans made to corporations for business expansion.
"Loans" refers to funds provided to a corporation to finance business activities such as expansion, capital expenditures, or acquisitions, with specific repayment terms and conditions agreed upon by both parties.
Definition of "Loans" as syndicated loans
This definition links "Loans" to loans provided by a group of lenders.
"Loans" means funds extended to a borrower by multiple lenders forming a syndicate, where each lender contributes a portion of the total loan amount, typically for large-scale financing projects.
Definition of "Loans" as real estate loans
This definition applies "Loans" to financing for real estate transactions.
"Loans" refers to funds provided for the purpose of purchasing, refinancing, or developing real estate, where the loan is secured by the property involved in the transaction.
Definition of "Loans" as microloans
This definition ties "Loans" to small, short-term loans often used for entrepreneurial purposes.
"Loans" means small loans typically extended to individuals or businesses for entrepreneurial purposes, often with a focus on supporting startups or community-based initiatives.
Definition of "Loans" as subprime loans
This definition connects "Loans" to loans given to borrowers with lower credit ratings.
"Loans" refers to loans extended to borrowers with lower credit scores, often with higher interest rates due to the increased risk of lending to individuals or entities with a history of poor credit.
Definition of "Loans" as bridge financing
This definition links "Loans" to short-term loans provided to meet immediate funding needs.
"Loans" means short-term loans used to bridge a temporary gap in financing, often used to provide funds until long-term financing can be secured or other financial arrangements are made.
Definition of "Loans" as student loan consolidation
This definition applies "Loans" to the combining of multiple student loans into one.
"Loans" refers to the process of consolidating multiple student loans into a single loan with a unified repayment plan, making it easier for the borrower to manage payments.
Definition of "Loans" as government-backed loans
This definition ties "Loans" to loans that are partially or fully guaranteed by the government.
"Loans" means loans provided by a financial institution but backed by a government agency, offering reduced risk to lenders and potentially more favorable terms for borrowers.
Definition of "Loans" as payday loan alternatives
This definition connects "Loans" to short-term, small amount loans designed to cover emergency expenses.
"Loans" refers to short-term loans, typically smaller in amount, designed to help individuals meet urgent financial needs, often with terms that are more flexible than traditional payday loans.
Definition of "Loans" as loans to affiliates
This definition links "Loans" to funds lent to related companies or entities.
"Loans" means funds extended to affiliates or subsidiaries of the borrowing company, where the terms may differ from those offered to third-party entities due to the relationship between the parties.
Definition of "Loans" as debt financing
This definition applies "Loans" to borrowing funds for business purposes.
"Loans" refers to funds borrowed by a company or individual through debt instruments to finance operations, expansion, or investments, with the understanding that the principal and interest will be repaid over time.
Definition of "Loans" as term loans
This definition ties "Loans" to loans with a fixed repayment period.
"Loans" means loans with a fixed term for repayment, typically with set interest rates and an agreed-upon maturity date by which the full balance must be paid.
Definition of "Loans" as secured business loans
This definition connects "Loans" to loans secured by business assets.
"Loans" refers to loans extended to a business where the loan is secured by company assets, such as equipment, real estate, or inventory, which may be used as collateral in case of default.
Definition of "Loans" as revolving line of credit
This definition links "Loans" to a credit line that can be repeatedly accessed.
"Loans" means a line of credit extended to a borrower that allows them to draw on funds as needed, repay, and borrow again, subject to an agreed-upon credit limit.
Definition of "Loans" as home equity loans
This definition applies "Loans" to loans secured by the equity in a home.
"Loans" refers to loans secured by the homeowner's equity in their property, typically used for home improvements, debt consolidation, or major purchases.
This article contains general legal information and does not contain legal advice. Cobrief is not a law firm or a substitute for an attorney or law firm. The law is complex and changes often. For legal advice, please ask a lawyer.