character loan
Definition
Good faith (unsecured) loan based on the borrower's financial position, reputation in the community, and his or her payment history with the same or other bank(s). Character loan is given on the signature of the applicant without additional guaranty or collateral, and is also called signature loan. See also five C's of credit.
Popular 'Banking, Commerce & Finance' Terms
character loan in the news
Loading...
This content can be found on the following page:
http://www.businessdictionary.com/definition/character-loan.html
