Unsecured Loan

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Mezzanine loan - A mezzanine loan is a relatively large, unsecured loan (a loan that is not backed by a pledging of assets) with a maturity of at least five years. The loan carries a detachable warrant (the right to purchase a certain number of shares of stock or bonds at a given price for a certain period of time) or a similar mechanism to allow the lender to share in the future success of the business.

Loan shark - A loan shark is a person or body that offers illegal unsecured loans at high interest rates to individuals, often backed by blackmail or threats of violence.

Equity loan - An equity loan is a mortgage placed on real estate in exchange for cash to the borrower. For example, if a person owns a home worth $100,000, but does not currently have a lien on it, they may take an equity loan at 80% loan to value (LVR) or $80,000 in cash in exchange for a lien on title placed by the lender of the equity loan.

Interest-only loan - An interest-only loan is a loan in which for a set term the borrower pays only the interest on the capital; the capital remains owing. At the end of the term the borrower may renew the interest-only mortgage, repay the capital, or (with some lenders) convert the loan to a principal and interest payment loan at his option.


Suggested Web Sites

American Personal Loans - American Personal Loans Offers secured and unsecured loans for good and bad credit.

The Personal Loan Express - The Personal Loan Express Online secured and unsecured loans for home owners and mortgage payers in the UK.

Personal Loans Bureau - Personal Loans Bureau Provides secured and unsecured personal loans for UK homeowners and tenants. Apply online

Source: BazSites.com

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