purpose loan

(redirected from Purpose Loans)

Purpose loan

A loan that is backed by securities and that is used to buy other securities under certain government regulations.

Purpose Loan

A loan with securities pledged as collateral in which the proceeds from the loan are used to buy other securities. See also: Margin loan.

purpose loan

A loan using securities as collateral with proceeds from the loan being used to purchase additional securities. Compare nonpurpose loan.
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Continuing its top honors as a one of the largest private money lenders in the California real estate market for the last three years straight, Val-Chris has once again demonstrated its ability as a trusted lender by serving the needs of first-time home buyers, buyers seeking to refinance their homes for business purpose loans, and investors who are either denied access to or shut out from securing loans from traditional mortgage lenders.
Digging further into the details, the growth trend in the general purpose loans remains elevated, while it softens in the consumer credit card segment.
It offers commercial and industrial purpose loans with terms of three, five and seven years and commercial real estate loans financed for up to 15 years.
Here the average maturity of general purpose loans is below three years.
two of the town's general obligation municipal purpose loans ($4,228,000 for 1998 and $6,212,000 for 2002).
Arab banks have also given general purpose loans, in many cases without knowing how the funds will be used, exposing their retail portfolios to the vagaries of property or equity markets.
The bank chose Capstone Decision Manager to support its new consumer finance initiatives, including the processing of remote applications for installment credit on unsecured merchandise, such as electronics products, credit cards, auto loans and general purpose loans.
Commercial purpose loans declined slightly and second mortgages were stagnant at a 1.
The consumers are not penalized for early prepayment that can be done without notifying the bank if it is within two weeks, or a month for special purpose loans under the new law, which was adopted in December and takes effect on July 1.
Among consumer loans, credit cards and general purpose loans registered the highest weekly growth with 0.
Previously delinquent loans managed by us subject to deferment and forbearance arrangements are not included in this table if borrowers are current on principal and interest payments as required under the terms of the original note (exclusive of delinquent payments advanced or fees paid by us on the borrower's behalf as part of the deferment or forbearance arrangement) (dollars in thousands): June 30, March 31, 2004 2004 Delinquency by Type: Amount % Amount % Managed By ABFS: Business Purpose Loans Total portfolio $ 255,200 $ 278,608 Period of delinquency: 31-60 days $ 4,847 1.
The Company primarily originates, sells and services home equity and, subject to market conditions in the secondary loan market, business purpose loans through a combination of channels, including a national processing center located at its centralized operating office in Philadelphia, Pennsylvania, and a small processing center in Roseland, New Jersey.