Guaranteed Loan A pledge to cover the payment of debt or to perform some obligation if the person liable fails to perform. When a third party guarantees a loan, it promises to pay in the event of a default by the borrower. Interim Financing Short-term loan to provide temporary financing until more permanent financing is available.
Intermediaries Non- or for-profit institutions that have specialized lending capacities. They obtain capital in the form of equity and low interest loans from a variety of sources, including foundations and other funders, to form a "lending pool. " They then serve as "wholesalers" who process large numbers of small loans or investments.
This "economy of scale" often allows intermediaries to be more efficient than a foundation or funder could be if it considered each investment individually. Also, intermediaries often develop expertise in a particular field or region that foundations or funders cannot afford to personal loans chicago il.
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If your loan is renewed, there will be additional charges as determined by your lender, and the minimum term can be set up. Your lender may offer you other options in addition to renewal, including the ability to repay your loan in full at a personal loans chicago il date or repay your loan over time in a series of installments.
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