Development Loans

2007-03-08 10:33:40

( Financial )



Loans in General
Loans are contracts involving the transfer of money to one party, to be repaid in the future, usually with interest. A loan always takes place between at least two parties. Sometimes, the lender is a bank, in which case interest will always be paid.

Development Loans
Development loans are granted with the goal of improving specific fields. These may be as broad as human development, or as focused as career development. Human development loans are granted with the end goal of improving the quality of life for mass populations. Career development loans involve the improvement of a personal career.

Popular Types of Development Loans
The most popular types of development loans are career development loans, rural development loans, and business development loans. Development loans always have a specific slant. As an applicant for a specific type of development loan, you will only be approved if you meet the qualifications required by the lender. For instance, if you want access to a business development loan, you will need to show the viability of your business plan.

Career Development Loans
Career development loans are granted to assist professionals in obtaining the necessary education to move forward. Career development loans became a class of loans in 1988, and since then have served to assist many professionals in achieving greater success.

Rural Development Loans
Rural development loans focus on improving the quality of life in rural areas. They are granted with the goal of improving the basic minimum services required for people to live with dignity. They are also provided to raise health standards, sanitation services, and bring rural communities up to speed in terms of information and communication technology.

Business Development Loans
Business development loans are granted to allow businesses to recover from losses, or expand production capacity. The main goal of business development loans is to grant the funds needed to allow a business to take flight.


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