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Transaction Loan |
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Transaction loan A loan extended by a bank for a specific purpose. Lines of credit and revolving credit agreements involve by contrast loans that can be used for various purposes. Transaction Loan A loan for a specific purpose. For example, a mortgage is a transaction loan because it is used to buy a piece of property, a fact both the lender and the borrower know when they begin the process. A transaction loan contrasts with a line of credit, which may be used for any number of purposes within a broad range. How to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit webmaster's page for free fun content. |
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