A loan is money, property or other material goods given to another party in exchange for future repayment of the loan value amount with interest. A loan may be for a specific, one-time amount or can be available as an open-ended line of credit up to a specified limit or ceiling amount.
 | | Term of the Day | Words to Know | | |  | | Loan | | A loan is money, property, or other material goods given to another party in exchange for future repayment of the loan value or principal amount, along with interest or finance charges. A loan may be for a specific, one-time amount, or it can be available as an open-ended line of credit up to a specified limit. | | Read More » | | SPONSORED BY INVESCO | | The Complete Guide to ETFs | | ETFs are becoming increasingly popular and soaring to new heights among investors. Invesco's insights can help you determine if these investment vehicles are right for you. | | Learn More » | | | Secured Debt | | Secured debt is debt backed or secured by collateral to reduce the risk associated with lending, such as a mortgage. | | Read More » | | | Unsecured Debt | | Unsecured debt refers to loans that are not backed by collateral. Because they are riskier for the lender, they often carry higher interest rates. | | Read More » | | | Revolving Credit | | Revolving credit is a line of credit where the customer pays a commitment fee and is then allowed to use the funds when they are needed. | | Read More » | | | Term Loan | | A term loan is a loan from a bank for a specific amount that has a specified repayment schedule and a fixed or floating interest rate. | | Read More » | | | | | | CONNECT WITH INVESTOPEDIA | | | | | | | |
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