Sentences with phrase «upon value of the collateral»
This is the amount a lender will lend to you based upon the value of the collateral.
https://www.valuepenguin.com/
Include information such as agreed upon value of the collateral, who holds the collateral until the loan terms are met and details of the transfer of collateral if necessary.
Not exact matches
In general, bridge loans are granted based upon the value of the property that serves as collateral rather than on the credit score of the borrower.
The value of the collateral is used to determine what's referred to as the loan - to - value ratio based upon the nature of the collateral.
What's more, because the loan is not based upon the loan - to - value ratio of any specific collateral, the lender is using other data points to evaluate a business owner's creditworthiness.
Once your proposed collateral has been accepted, the banker will determine the loan - to - value ratio based upon the nature of the asset.
Collateral is simply something of value that you allow the lender to place a lien upon until the loan is repaid, like a car or home.
The reason why secured loans are preferred is that they come with collateral, an item that matches the value of the loan that the lender can claim in compensation should the loan be defaulted upon.
What's more, because the loan is not based upon the loan - to - value ratio of any specific collateral, the lender is using other data points to evaluate a business owner's creditworthiness.
The value of the collateral is used to determine what's referred to as the loan - to - value ratio based upon the nature of the collateral.
With these loans, collateral rather than credit score forms the basis of the loan, meaning that the funds you need can be secured based upon a percentage of the value of the collateral you can offer.