Those who want to take the money in the bank loan, you must know in advance variations in the types of loans offered by banks to the public. Lending money in the bank with the mortgage system is also called credits. Credit is a financial facility that allows a person or business entity to borrow money normally used to purchase the product, and the repayment of the loans within the period specified. How to get hard money loans with a bankruptcy, Bankruptcy auto loans are available with low down payment options for both chapter 7 and chapter 13 cases. Get approval today, and start your new beginning!
Before you choose a loan at the bank, make sure your needs and objectives in making the loan. Do not get personal or business budget you even messy because unable to pay the loan.
Here is a variation of the type of loan that you can aggregated-select as needed.
1. Based On The Time Period
- Short-term loans. The loan granted to the public bank with a period of approximately one year.
- Medium-term loans. The loan is granted for a period of between one to three years.
- And the last long-term loans. Your loans including long-term loans if the repayment takes more than three years.
2. Based On Its Use.
Once divided into repayment, the loan can also be shared purpose or objective, namely:
- Consumer loans: loans granted to finance the purchase of consumer goods. Examples include use of the loan for purchase of a car or personal purposes. The loan repayment exact source of the salary.
Consumer loans can still be divided, depending on the system used. Which is included in consumer loans, among others:
- Credit card
- Loans without collateral (KTA)
- Mortgage (Housing Loan)
- Credit vehicles, such as motorcycles and cars with vehicle warranties that you credit.
- Multipurpose loans secured. Collateral can be used as a guarantor include land, buildings, debtor.
- Commercial Loans: are loans used to finance the business that you have. Commercial loans themselves are still divided over the size of loans. Included in commercial loans include:
- Micro-credit, credit facilities granted for financing the activities of micro enterprises
- Small business loans, credit facilities granted remedy finance small businesses
- Medium business loans, credit facilities granted to finance the activities of medium-sized enterprises
- Corporate loans, loans to finance the corporation or company
3. Based On The Needs Of The Business
Whose name is not just a business needs capital loans, there are also loans used to build a business investment, such as machinery, etc. Well, here is the distribution of loans based on business needs, namely:
- Working capital loans so that your company’s working capital increases.
- Credit investments. Subdivided into two long-term loans and medium-term loans for the purchase of goods categorized as capital for your company
- Namely project financing credit credit used for financing for a new project
4. Based On The Nature Of Withdrawal
Based on the nature of the pull, the loan can be divided into direct loans and indirect loans. Direct Loans are loans granted by the central bank (Bank Indonesia) to government agencies or even semi-government.
5. Berdasarkan Callable Nature
- Loans are paid once at maturity
- Installment credit
6. Based On The Method Of Financing
Bilateral credit, which is meant here is the only credit financed by a bank
click here to know about syndicated loans that play role in your business activity.
7. Based On The Location Of Banks
Wherever you are can credit granted by banks in the country. Based on the location of credit can be divided into credits on-shore and offshore credit.
- On-shore loans given to customers in the country in the form of foreign currency and conducted through the branch in the country
- Off-shore loans are loans given to customers in domestic and in foreign currency through bank branches abroad