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Secured loan – This is a loan exactly where the borrower will pledge his asset similar to a auto or home that may be sold if he is unable to pay back again the loan.
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“I used to be born in Guatemala and don’t have a long ample credit rating record to obtain a loan below. This Kiva loan purchased a van and expanded my enterprise.”
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Compound desire – Desire that is computed within the loan’s stability, the stability will contain all curiosity which can be unpaid.
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