A bank loan, also known as a bank advance, is a specified sum of money lent by a bank to a customer for a specific period at a specified rate of interest.
A Loan Creditor is an individual or institution that provides financing to a business or individual, thereby becoming entitled to repayment of the principal amount along with interest.
Non-recourse finance is a type of bank loan where the lender can only claim repayments from the project's profits, not from other borrower assets.
An overdraft is a loan provided by a bank or building society for a customer with a cheque account, allowing the account to go into debit, up to a specified limit known as the overdraft limit.
