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Stock Photo: Signature Loans, Fast And Confidential

ID 247936923 © Clewisleake | Megapixl.com

A signature loan, also known as a “good faith loan” or “character loan,” is a type of personal loan offered by banks and other finance companies that only requires the borrower’s signature and a promise to pay as collateral. A signature loan can typically be used for any purpose the borrower chooses, although the interest rates may be higher than other forms of credit due to the lack of collateral.

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bank borrow borrowed borrowers character collateral confidential fact faith fast finance financing fixed fund funding funds good interest lender lenders loan loans money monthly pay payments personal promise prosper repayment signature terms type unsecured year yield

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