About Us

About Us

 

  • A loan is when money is given to another party in exchange for repayment of the loan principal amount plus interest.
  • Lenders will consider a prospective borrower's income, credit score, and debt levels before deciding to offer them a loan.
  • A loan may be secured by collateral, such as a mortgage, or it may be unsecured, such as a credit card.
  • Revolving loans or lines can be spent, repaid, and spent again, while term loans are fixed-rate, fixed-payment loans.
  • Lenders may charge higher interest rates to risky borrowers.