0
Loan means credit when you loan to somebody giving that somebody credit. You are the loaner and the person given credit is the Lonee. Loaner is the lender and the Lonee is the borrower.
Wiki User
∙ 13y ago
Add your answer:
Earn +20 pts
What does it mean to loan money to someone?
To loan money to someone means to give your own money to someone else for a period of time. Then, the receiver will eventually pay the lender back the money (usually with interest).
What does it mean if someone defaults on a loan?
When someone defaults on a loan, it is when you borrow money from a bank and you say that you are going to pay it back, but you do not, therefore stealing their money. This can wreck your credit score and get you in deep trouble.
What does it mean if you apply for credit?
It means you are asking someone or some company to loan you some money.
What does it mean to have a guarantor on an auto loan?
A cosigner- someone who agreesto pay the loan if you default
What does a corporate loan mean?
A corporate loan is when a company lends money from a bank. Because a loan is given to a corporate institution, the money tends to be a larger amount than if it was lent to an individual.
What does it mean if someone has to co sign a loan with you?
To cosign a loan is to guarantee payment if the borrower fails to pay.
What does loan mean?
A thing or money that is borrowed by the bank
What does it mean to get a shop a check loan?
A check loan is a loan received by check. For a shop to get a check loan, it means that the shop loans money through checks or just a single check transaction.
What do you mean by loan?
A loan is a thing that is borrowed, especially a sum of money that is expected to be paid back with interest. Banks can give these out.
What does Loan Loss allowance mean?
Amount of money that a bank might lose because of its loan not being fully repaid.
What does a secured loan and unsecured loan mean?
A secured loan is a loan in which there is physical collateral, meaning there is a physical item of worth that can be taken by the bank if the loan is not paid. Examples of this include a car loan or mortgage (house loan); the car or house are the collateral and therefore are the 'security' that the bank will not lose money on the loan. An unsecured loan is a loan in which there is no physical collateral, meaning there is no item of worth the bank can take if the loan is not paid. Examples of this include credit card debt or a student loan; in these cases, if the loan isn't paid the bank has to use a collections agency to try to get the money back.
When someone is a cosigner on the loan of your car does that mean he owns any part of it?
when you cosign on any kind of loan you dont have to pay anything unless the person you cosigned for does not pay the loan, then you are responsible for that the remaining balance on the loan
