Types of credit depending on the destination
Production or commercial credit
The commercial credit is dedicated to financing the fields related to agriculture, livestock, fishing, commerce, industries and transportation of the different economic activities. They also help pay for purchases of goods, working capital, services, and suppliers. They are usually paid in the medium and short term.
When we talk about a consumer 당일대출 we refer to those that are requested to cover more personal needs, and they are usually for some good or service. They are credits that are only delivered to natural persons, never legal entities. Among them we could find buying a car, planning a wedding, starting a business , going on vacation. They are usually paid in the short and medium term.
Types of credit depending on the term
Short and medium term loans
Short and medium-term loans are those in which the payment of the return of the amount and interest is made in a period of between one to four years.
However, long-term credits establish that the repayment of the amount and interest can be made in a term that can reach up to 40 years and that does not fall below eight.
However, in both cases, when it comes to specifying the terms, it is usually agreed between the entity and the client, or it is established as a condition in the credit itself.
Types of credit based on the guarantee that ensures the payment of the return and interest
For example a guarantee . In this case, in addition to the debtor, the loan is signed by another person or entity, and they agree to pay in the event that the main debtor does not comply with the obligation. This person is called a guarantor.
In this case it could be, for example, a mortgage , in which the creditor could collect his debt from the balance obtained from the sale of the property. That is, it is a credit guaranteed or backed by an asset, for example a house, a car, etc.