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Loan
(redirected from Personal loans)

   Also found in: Financial, Encyclopedia, Wikipedia, Hutchinson 0.07 sec.

LOAN, contracts. The act by which a person lets another have a thing to be used by him gratuitously, and which is to be returned, either in specie or in kind, agreeably to the terms of the contract. The thing which is thus transferred is also called a loan. 1 Bouv. Inst. n. 1077.
     2. A loan in general implies that a thing is lent without reward; but, in some cases, a loan may be for a reward; as, the loan of money. 7 Pet. R. 109.
     3. In order to make a contract usurious, there must be a loan; Cowp. 112, 770; 1 Ves. jr. 527; 2 Bl. R. 859; 3 Wils. 390 and the borrower must be bound to return the money at all events. 2 Scho. & Lef. 470. The purchase of a bond or note is not a loan ; 3 Scho. & Lef. 469; 9 Pet. R 103; but if such a purchase be merely colorable, it will be considered as a loan. 2 John. Cas. 60; Id. 66; 12 S. & R. 46; 15 John. R. 44.


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Services offered include: savings and checking accounts, mortgages, personal loans, debit cards, credit cards, and so forth.
nbsp;and GE Money offering personal loans of up to $40,000 for health care.
Sources of Capital Successfully Obtained Percent(%) Business credit cards 68 Business lines of credit 57 Personal credit cards 53 loans secured with 50 personal assets Vendor credit 48 Business bank loans 41 Friends/Family 33 Unsecured personal loans 22 Selling/pledging 12 accounts receivable Equity financing 7 Source: Capital Choices Volume 2 Value of knowledge, 2006 Note: Table made from bar graph.
 
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