loan note

Definition

A form of vendor finance or deferred payment, in which the purchaser acts as a borrower, agreeing to make payments to the holder of the transferable loan note at a specified future date.

Use loan note in a sentence

You should always make sure that you fully agree to everything on a loan note before you sign off on it.

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The loan note had a specified future date on it and I knew that everything had to be paid back by the date written.

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The loan note strategy of fulfilling the terms of the deal was an effective decision as the optimal financing conditions were met.

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loan modification debt