direct loan

Definition

Loan made available to a borrower directly from the issuing bank. No third-party is used to disperse or finalize any part of the loan. Direct loans may result in lower interest rates and fees because of the alleviation of the middle man.

Use direct loan in a sentence

You need to make sure that you understand all of the terms before you decide to take on a direct loan.

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The direct loan was easy for the individual with an outstanding credit history as it was a simple application process.

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When he was looking for a place to get a loan to provide for the renovations he wished to make on his business property, he sought out a direct loan.

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