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A payday loan (also called a payday advance salary loan payroll loan small dollar loan short term or cash advance loan) is a small shortterm unsecured loan regardless of whether repayment of loans is linked to a borrowers payday.
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Limited Recourse Rights only to specifically stipulated assets to satisfy an unpaid debt. Line of Credit Agreement by a bank that a company may borrow at any time up to an established limit. Linked Deposit A deposit in an account with a financial institution to induce that institution's support for one or more projects.
By accruing no interest or low interest on its deposit, a foundation essentially subsidizes the interest rate of the project borrowers. Loan Agreement A written contract between a lender and a borrower that sets out the rights and obligations of each party regarding a specified loan. Loss Reserves That portion of a fund's earnings or permanent capital designated by the board of directors as a reserve against possible loan losses small payday loan kansas, as such, unavailable for lending purposes.
Generally accepted accounting principles governing for-profit and regulated financial institutions require that loan loss axis bank personal loan department pune be deducted as an annual expense on an accrual basis and that the loan loss reserve be shown as a contra asset reducing loan assets. To date, no accounting convention has been established to govern loan loss reserve accounting for unregulated nonprofit institutions.