discount loan

Definition

A loan on which the interest and financing charges are deducted from the face amount when the loan is issued.

Use discount loan in a sentence

It was necessary to take out a discount loan for extra cash this quarter but the company will be able to repay the loan quickly.

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Pay Check to Pay Check Incorporated offers high interest, short term, discount loans to people who need cash between pay periods.

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Harold wants to buy a house but after shopping around for regular mortgage and equity loans , Harold decided to look for a DISCOUNT LOANhe could afford.

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discount interest discount margin