Who is the refinancing loan for Loan contract

To answer the question for whom a refinancing loan is intended, we should start by explaining what refinancing a loan is. Namely, simply put, the term hides the conversion of expensive credit into a new and cheaper product. How it’s possible? In practice, we draw a refinancing loan in a facility other than the current liability. Therefore, a refinancing loan assumes a change of creditor or, in other words, a transfer of receivables to another bank. With the capital obtained in the form of a refinancing loan, we repay the current debt, and a new, lower installment remains to be repaid. rdk-invest.com has more notes

What is a bank loan?

Banks do not make money by taking your deposits and keeping them until you need the money. They earn a lot of money through loans. A bank loan is an arrangement in which a bank gives you money that you […]