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  • Term: loan service
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    loan service!


    loan service

    Comprehensive Analysis



    1) "Loan" -- As to loan service

    1loan
    Pronunciation: 'lOn
    Function: noun
    Etymology: Middle English lon, from Old Norse lAn; akin to Old English l[AE]n loan, lEon to lend, Latin linquere to leave, Greek leipein
    1 a : money lent at interest b : something lent usually for the borrower's temporary use
    2 a : the grant of temporary use b : the temporary duty of a person transferred to another job for a limited time
    3 : LOANWORD
    Pronunciation Symbols

    A loan is a type of debt. All material things can be lent but this article focuses exclusively on monetary loans. Like all debt instruments, a loan entails the redistribution of financial assets over time, between the lender and the borrower.

    The borrower initially receives an amount of money from the lender, which they pay back, usually but not always in regular installments, to the lender. This service is generally provided at a cost, referred to as interest on the debt.

    Acting as a provider of loans is one of the principal tasks for financial institutions. For other institutions, issuing of debt contracts such as bonds is a typical source of funding. Bank loans and credit are one way to increase the money supply.

    • 1 Types
      • 1.1 Secured
      • 1.2 Unsecured
    • 2 Abuses
    • 3 References
    • 4 See also

    A mortgage is a very common type of debt instrument, used by many individuals to purchase housing. In this arrangement, the money is used to purchase the property. The financial institution, however, is given security - a lien on the title to the house - until the mortgage is paid off in full. If the borrower defaults on the loan, the bank would have the legal right to repossess the house and sell it, to recover sums owing to it.

    In some instances, a loan taken out to purchase a new or used car may be secured by the car, in much the same way as a mortgage is secured by housing. The duration of the loan period is considerably shorter often corresponding to the useful life of the car. There are two types of auto loans, direct and indirect. A direct auto loan is where a bank gives the loan directly to a consumer. An indirect auto loan is where a car dealership acts as an intermediary between the bank or financial institution and the consumer.

    These may be available from financial institutions under many different guises or marketing packages:

    • credit c..."


      2) "Service" -- As to loan service

      1ser·vice
      Pronunciation: 's&r-v&s
      Function: noun
      Etymology: Middle English, from Anglo-French servise, from Latin servitium condition of a slave, body of slaves, from servus slave
      1 a : the occupation or function of serving <in active service> b : employment as a servant <entered his service>
      2 a : the work performed by one that serves <good service> b : HELP, USE, BENEFIT <glad to be of service> c : contribution to the welfare of others d : disposal for use <I'm entirely at your service>
      3 a : a form followed in worship or in a religious ceremony <the burial service> b : a meeting for worship -- often used in plural <held evening services>
      4 : the act of serving : as a : a helpful act <did him a service> b : useful labor that does not produce a tangible commodity -- usually used in plural <charge for professional services> c : SERVE
      5 : a set of articles for a particular use <a silver tea service>
      6 a : an administrative division (as of a government or business) <the consular service> b : one of a nation's military forces (as the army or navy)
      7 a : a facility supplying some public demand <telephone service> <bus service> b : a facility providing maintenance and repair <television service>
      8 : the materials (as spun yarn, small lines, or canvas) used for serving a rope
      9 : the act of bringing a legal writ, process, or summons to notice as prescribed by law
      10 : the act of a male animal copulating with a female animal
      11 : a branch of a hospital medical staff devoted to a particular

      In economics and marketing, a service is the non-material equivalent of a good. Service provision has been defined as an economic activity that does not result in ownership, and this is what differentiates it from providing physical goods. It is claimed to be a process that creates benefits by facilitating either a change in customers, a change in their physical possessions, or a change in their intangible assets.

      By supplying some level of skill, ingenuity, and experience, providers of a service participate in an economy without the restrictions of carrying stock (inventory) or the need to concern themselves with bulky raw materials. On the other hand, their investment in expertise does require marketing and upgrading in the face of competition which has equally few physical restrictions.

      Providers of services make up the Tertiary sector of industry.

      • 1 Key attributes
      • 2 Service delivery
      • 3 The service-goods continuum
      • 4 List of economic services
      • 5 See also
      • 6 Finding related topics

      Services can be described in terms of their main attributes.

      • Intangibility - They cannot be seen, handled, smelled, etc. There is no need for storage. Because services are difficult to conceptualize, marketing them requires creative visualization to effectively evoke a concrete image in the customer's mind. From the customer's point of view, this attribute makes it difficult to evaluate or compare services prior to experiencing the service.
      • Perishability - Unsold service time is "lost", that is, it cannot be regained. It is a lost economic opportunity. For example a doctor who is booked for only two hours a day cannot later work those hours— she has lost her economic opportunity. Other service examples are airplane seats (once the plane departs, those empty seats cannot be sold), and theatre seats (sales end at a certain point).
      • ..."


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