purpose loan

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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Also, the company said that pending such use, it may use all or a part of the net proceeds to temporarily lower borrowings under its short-term residential or business purpose loan warehouse facilities and its short-term real estate securities repurchase facilities.
Pending such uses, Redwood may use all or a portion of the net proceeds from this offering to temporarily reduce borrowings under its short-term residential or business purpose loan warehouse facilities and its short-term real estate securities repurchase facilities and Redwood may subsequently re-borrow amounts under such facilities to fund the activity described above.
He said for this purpose loan should be provided to them both by the government and banks.
Another amount of Rs 8,235,075 paid for general purpose loan.
Some uses for a non purpose loan include: Financing real estate opportunities; Paying your taxes; Refinancing high interest non-purpose debt; Financing business opportunities; Funding higher education; Buying a luxury item
The list included things like changing the definition of a "business purpose loan" in Regulation X to match that in Regulation Z, developing a commentary to Regulation X similar to Regulation Z's, and adopting the same record retention requirements in Regulation X as are in Regulation Z.
The general purpose loan has attracted international attention and is the first to be raised by a public sector corporate borrower.
WORCESTER - Fitch Ratings of New York has assigned an "A" rating to the city's $43 million general obligation bonds, consisting of $41.3 million municipal purpose loan of 2008 bonds, series A, and $1.7 million refunding bonds, series B.
The agency also gave AA long-term rating to the town's USD6.782m (EUR5.3m) series 2010 municipal purpose loan bonds.
As of March 31, 2018, the multiple purpose loan portfolio consisted of: 43% single-family whole loans, 50% MBS certificates, and 7% multi-family loans.
CS/HB 935:Mortgage Regulation This bill makes it illegal for an individual to misrepresent a residential mortgage loan as a business purpose loan.
Securities and Exchange Commission, assigned a 'AA' rating to the following town of Saugus, MA general obligation (GO) bonds: --$67,845,000 GO Municipal Purpose Loan of 2018 bonds.