Joint Loan

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Joint Loan

A loan in which two or more borrowers assume responsibility for repayment. That is, if one borrower stops paying, the others must pay on that borrower's behalf. A joint loan reduces the risk for the lender, which may reduce the interest rate. A joint loan also may be eligible for certain tax benefits.
References in periodicals archive ?
Banque Misr managed to top Bloomberg's international list for the third quarter in 2015 as the best bank in marketing joint loans and financing projects in Africa, with a major difference between it and the second best bank on the list, the Standard Chartered Bank.
It's vital that couples know what their responsibilities are if they take out joint loans and that they try and agree how debts and bills should be paid if they split up.
This deal confirms NBE s leading position in financing oil sector over the past years and at the forefront of Egyptian banks in arranging joint loans and projects finance.
This deal confirms NBE's leading position in financing the oil sector and at the forefront of Egyptian banks in arranging joint loans and projects finance.
This is because joint loans are usually taken to increase the loan amount.
Every wife and husband in the country who took out joint loans with a bank or credit union could claim one or the other did not understand the implications of the transaction.
All other applications for joint loans often don't go through as the chances of disputes in such cases are higher.
Many companies, especially in Dubai and Abu Dhabi, are issuing bonds or assembling capital via joint loans to fund or purchase new projects.
TOKYO - Mizuho Corporate Bank has agreed with major Mexican banking group Banorte to tie up in international operations, including joint loans for energy and other large development projects, Mizuho officials said Monday.
uk advises that if you are going to take out any joint loans or credit cards, decide who is going to repay the debt should you go your separate ways.
Driven by Affinity's unique proprietary Decisys/RTSM technology, the Affinity ALM can receive and process loan applications and other transactions (including joint loans, auto loans, home equity loans and lines of credit, as well as opening new checking accounts and getting approval for credit cards) in as little as 10 minutes.
The main means that the bank's growth will be through expansion of the bank's loans and advances operations, especially through financing small, medium and mciro enterprises, in addition to joint loans.
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