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∙ 16y ago
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What is social lending used for?
Social lending is used to lend money to other peers around you without going through a bank or other financial institution in order to get the money. There are peer to peer lending websites in order to practice social lending.
The Prime rate is the lending rate at which the largest and most creditworthy corporations borrow money from banks?
TRUE!
When banks borrow money from each other?
Banks usually borrow money from one another when they are running short of cash. They charge a smaller interest (when compared to what interest gets charged to a normal loan customer) when they lend money to other banks. This lending interest rate is called Inter-Bank Lending Rate. Banks even go to the central bank of their country to borrow money if they need it.
Which term refers to the percentage rate the lending institution charges for the use of its money?
interest rate
What term refers to the percentage rate lending institution charges for the use of its money?
Interest Rate
Which term refers to the percentage rate the lending institution charge for the use of its money?
interest rate
What term refers to the percentage rate the lending institution charges for the use of its money?
Interest Rate
What is bank loan?
A bank loan is money that is owed to a lending institution. This can be, for example, a bank or a credit union.
How do loan processors earn money?
They get a commission, often fromt the points charged but it can also be a kickback from the lending institution.
Where can I learn about peer to peer lending?
Prosper is one of the fastest growing companies that deals with peer to peer lending. They have great information on their site about this subject. Peer to peer lending is basically when you lend a friend money without a financial institution involved.
What is the definition of a money market bank?
Money market banks are a large financial service firm that offer commerical lending service. They lend and borrow from governments, banks and large corporations.
What kind of questions will I be asked when applying for a small business loan?
The questions a a lending institution may ask are: How much money do you need? What are you going to do with the money? When will you repay the loan?
