what is loan ? Explain with it's kind
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A loan is a sum of money that one or more individuals or companies borrow from banks. ... In some cases, the lender requires the borrower to offer an asset up for collateral, which will be outlined in the loan document. A common loan for American households is a mortgage.
Different Loan Types
Personal Loans.
Credit Cards.
Home-Equity Loans.
Home-Equity Lines of Credit.
Credit Card Cash Advances.
Small Business Loans.
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