Loantypes
Loantypes refers to the various categories and classifications of financial loans available to individuals and businesses. These types are generally distinguished by their purpose, repayment structure, collateral requirements, and the length of the loan term.
Common loantypes include secured loans, which require an asset to be pledged as collateral, such as mortgages
Loans can also be categorized by their term length. Short-term loans are repaid over a relatively brief
Furthermore, loans are differentiated by their repayment structure. Amortizing loans involve regular payments that include both