Loan is not equal to loan. Meanwhile, there are the most diverse forms of credit for every need. Some of them are tied to a specific purpose, while others are free and popular be it for a new car, for your holiday or for something else.
Basically, a distinction is made between the two basic types of personal quick cash loans and bank loans. In the case of a personal loan, it is the case that one person lends money to another, so that, as it were, he assumes the role of the bank. Whether interest must be paid, conclude both parties with each other. But it is also important in this form of credit to conclude a written contract. So legally both are on the safe side.
The other …