Terms Beginning With 'l'

Loan Commitment

  • January 15, 2020
  • Team Kalkine

A loan commitment, also called a commitment letter, is a formal letter from the lender regarding the promise to offer a specified amount of loan or credit to a borrower which includes all of the terms and conditions of the loan.

Borrowers can then make use of the funds made accessible under the loan commitment, up to the consented-upon limit.

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