Credit as an economic category is one of the bases of redistribution of temporarily
http://usapaydayloans.info/ohio/massillon/ free resources and capital in the economic system. Credit as a banking term is associated primarily with the provision of money by banks at interest for a certain period.
Loans are serviced exclusively by banks. Microfinance institutions and individuals provide loans. In everyday life, these terms are used as synonyms, and the essential terms of the loan and loan agreements are similar.
Types of loans and features of their provision
There are many types of loans and their subspecies, depending on the characteristics and mechanism of credit operations. For example:
Targeted loans, the types of which vary with respect to the purpose of funds.
Among the loans to legal entities there are the following types: syndicated, subordinated, overdraft, leasing, investment, etc.
On time lending: long-, medium — and short-term.
Let’s focus on the main types of loans.
State credit
Money is issued from the budgets of different levels. Borrowers can be regions of the country or commercial banks. The state can lend or subsidize international programs, preferential mortgages, business development and individual sectors of the economy. However, the mechanism of credit operations is such that money at all levels is redistributed through banks, i.e. banks act as agents of state lending.
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