Repayment terms also vary from lender to lender and may be affected by state law. If you have questions about the loan terms offered to you, or about a loan that has funded, please contact the lender directly.
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In the context of this study, program-related investments include loans, loan guarantees, equity investments, asset purchases or the conversion of asset(s) to charitable use, linked deposits, and, in some cases, recoverable grants. Promissory Note Promise to pay. Written contract between a borrower and a lender that is signed by the borrower and provides evidence of the borrower's indebtedness to the lender. Receivables Accounts receivable; an amount that is owed the business, usually by one of its customers as a result of the ordinary extension of credit, Recourse Refers to the right, in an agreement, to demand payment from the person who is taking on an obligation.
A full recourse loan refers to the right of the lender to take any assets of the borrower if repayment is not made. A limited recourse loan only allows the lender to take assets named in the loan agreement. A non-recourse loan limits the lender's rights to the particular asset being financed -- an approach that is common in home mortgages and other real estate discover personal loans 3 5 days. Recoverable Grants Funds provided by a philanthropist to fulfill a role similar to equity.
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