processing fee

Definition

Money borrowers pay lenders for collecting needed information to set up their loans.

Use processing fee in a sentence

There was a processing fee that we had to pay and that meant that everything was going to be okay.

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The processing fee was a necessary part of issuing the loan so that amount was taken out of the balance of the loan.

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The processing fees at the check into cash type of loan companies is quite high compared to a fee from a standard bank or savings and loan company.

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