That loan may be a closed-end loan or an open-end loan

That loan may be a closed-end loan or an open-end loan

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A loan that is closed-end usually an installment loan where the loan is released for a certain quantity that is paid back in installments on a group routine. A good example of this can be a car loan. An open-end loan is just a revolving personal credit line given by way of a loan provider or institution that is financial. It comes down in 2 kinds and has now specific traits that will benefit the debtor. Continue reading “That loan may be a closed-end loan or an open-end loan”