Loan extension
An agreed change that pushes the loan maturity or repayment period to a later date, often affecting total interest cost.
Related terms
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Business loan
Money lent for business purposes under agreed repayment, interest, security and other terms.
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Loan term
The period over which a loan is scheduled to remain outstanding before final repayment.
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Loan repayment holiday
A temporary agreed pause in scheduled repayments. Interest may continue to accrue, so the total amount payable can still increase.
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