Joint Loan

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 ?
President Maithripala Sirisena has given instructions to the Ministry of Finance, the Central Bank and to the Heads of State Banks to implement a comprehensive program of 100 types of joint loan schemes, within the next few months, to provide assistance for the local small and medium-sized entrepreneurs and businessmen and women to uplift their businesses.
com says," A married couple or a parent and child can take a joint loan.
com and co- founder, says: "Married couples, or a parent and child, can take a joint loan.
He pointed out that this joint loan provided by some leading local banks is a clear indication of the strong status of Orpic and the confidence that the company found in the market as an entity that enjoys confidence.
FirstBuy works through a joint loan of 20% from the Homes and Communities Agency (HCA) and Taylor Wimpey, which means that eligible purchasers only need put down a 5% deposit and obtain a 75% loan-to-value mortgage.
Designed to help first-time buyers, FirstBuy works through a joint loan of 20% from the Homes and Communities Agency (HCA) and Taylor Wimpey, meaning eligible purchasers only need put down a 5% deposit and obtain a 75% loan-to-value mortgage.
The sources said that the investment case is hampered mainly because of a broken negotiation between Hon Hai and local competent authorities over the former's requirements for a preferential tax break and joint loan application, which were described by local officials engaged in the talks as "crazy demand.
Designed to help first-time buyers overcome the home buying hurdles, FirstBuy works through a joint loan of 20 per cent from the Homes and Communities Agency (HCA) and Taylor Wimpey.
Newcastle Joint Loan Equipment Service, Geoffrey Rhodes Centre, Byker.
Damascus, (SANA)-Souria Holding, the French-Saudi BEMO Bank, BEMO Securitization Company signed an agreement on securing the banking finance for Abraj Souria project through joint loan in which local and regional banks will take part.
The special mention will not have gone unnoticed by investors, who are charging Ireland over 6% interest on eight-year sovereign bonds, more than what Greece is paying to the EU under a joint loan package with the IMF.
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