Loans
"A loan is a financial arrangement in which one party, typically a lender (such as a bank or financial institution), provides money or assets to another party, known as the borrower. The borrower agrees to repay the loan amount, often with interest, over a specified period of time. Loans are commonly used for various purposes, including purchasing a home (mortgage), buying a car (auto loan), funding education (student loan), or financing a business (business loan). Loans can come in different forms, such as secured loans (backed by collateral) or unsecured loans (based on the borrower's creditworthiness). The terms and conditions of loans, including interest rates, repayment schedules, and loan amounts, vary depending on the type of loan and the lender's policies." People pay loans for a variety of reasons, but generally it is because they need to borrow money to finance a particular expense or purchase, and they do not have the cash on hand to pay for it outright. Lo...