Zero-Interest Loan

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Zero-Interest Loan

A loan on which interest does not accumulate. Rather, the borrower must only repay the principal. For example, one may borrow $5,000 and pay the lender $5,000 over a period of two years, at which point the debt is considered repaid. Zero-interest loans are the only loans permitted in Islamic finance. They are also extended to persons, companies and countries in desperate need of aid. See also: Zero-coupon bond.
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According to her, Government Empowerment and Enterprise Programme (GEEP), was another programme designed for zero interest loan scheme for over 1.
Currently Michigan is the only state in the nation eligible to receive WIIN funds and has provided one, zero interest loan with 100 percent principal forgiveness to the City of Flint.
A PS400,000 zero interest loan from the Welsh Government will enable the firm to take on more highly-skilled staff to support and refine its business intelligence platform, DataVoyant.
This comprises a PS200,000 grant and a zero interest loan of PS300,000.
The ODB also provides zero interest loan facilities to support the small investors' projects, implemented by people who are fully dedicated to manage them.
90 crores advanced as unsecured zero interest loan," said Swamy.
The Eugene Water & Electric Board and the Springfield Utility Board also are offering their customers incentives to install the system, with either a $1,500 rebate or a zero interest loan of up to $4,000.
Yet another example of the corrosive effect of" take-home pay" is that taxpayers are excited to get a tax refund when they should be upset that they have given Washington a zero interest loan for up to a year.
They will be given the keys to one, and a zero interest loan to repay the $90,000 price tag.
Strategies in Packaging a Zero Interest Loan for REA's Rural Economic Development Financing Program
4 million zero interest loan to finance the costs associated with the construction of a new water storage tank; replacement of aged water mains, well pumps, and a new emergency generator to improve the systems compliance with current standards.
Since the family could not qualify for a mortgage through a traditional bank, Habitat is essentially the mortgage lender, and the family will pay them via a zero interest loan.