What is LOAN
1. Loan is an amount of money advanced to a borrower
2. To be repaid at a later date (with interest)
3. Loan is a contract between the borrower and the lender
4. Enforceable under the Uniform Commercial Code in most Counties
5. The terms and conditions for repayment of a loan
6. Including the finance charge or interest rate
7. Loan agreement
8. Loan may be payable on demanded in equal monthly installments
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