A loan based on the reputation and/or personal credit history of a borrower, rather than collateral.
Related information about character loan:
- Character Loan Definition | Investopedia
A character loan is a type of unsecured loan that is made on the basis of the borrower's reputation and credit. Borrowers are typically able to obtain only small ...
- What is character loan? definition and meaning - InvestorWords.com
Definition of character loan: A loan based on the reputation and/or personal credit history of a borrower, rather than collateral.
- What is character loan? - BusinessDictionary.com
Definition of character loan: Good faith (unsecured) loan based on the borrower's financial position, reputation in the community, and his or her payment history ...
- What is a Character Loan?
Character loans are extensions of funding that are granted based on factors other than the declaration of collateral. Generally, a character loan is granted when ...
- Character loan - Merriam-Webster Online
an unsecured loan made by a bank or loan company because of the known integrity of the borrower. This word doesn't usually appear in our free dictionary, but ...
- Signature Loan or Character Loan
Signature loan or character loan uses only the borrower's signature to get credit. It doesn't need a co-signer or collateral but has higher interest.
- unsecured loan Definition | Business Dictionaries from AllBusiness ...
The lender may ask a co-maker or guarantor to sign the note, pledging to repay the loan if the borrower defaults. Also called a character loan or good faith loan.
- Signature Loan: Definition from Answers.com
Also known as a "good faith loan" or "character loan". Investopedia Says: The lender will typically just look for a solid credit history and a source of income when ...