Loan classification is primarily carried out according to the following criteria:

1) according to the form in which a specific loan is provided;

3) according to the period of provision.

Classification according to these criteria allows us to identify the main forms of credit.

In addition, it is possible to classify a loan in more detail using additional characteristics, while talking about the types of loans within one form or another.

Type of loan- this is a more detailed description of the main form of credit by highlighting additional features. The detailed classification is based on the principles of lending, therefore many specific types of loans reflect the specifics of the movement of credit, i.e. they characterize individual aspects of the organization credit process.

TO primary forms loans include: commodity; monetary and mixed.

Product form- this is a form of credit, which is characterized by the provision by the lender of things, goods on the basis of a counter transfer of an equal number of other things, goods of the same kind and quality.

Such transactions were widely used in ancient society. Roman law regulated such credit relations and defined them as a loan agreement. Roman jurists made a distinction between borrowing and lending. When lending, not every similar thing was subject to return, but precisely the one that was lent (the very horse that was taken for plowing). When borrowing, any similar thing was subject to return, that is, a thing with the same generic characteristics (grain of the same variety).

Based on the commodity form of credit, its comprehensive development monetary form - This is a form of credit, which is characterized by the transfer of money on terms of repayment .

IN modern economy this form became the predominant one. From the very moment of its appearance, it was destined for a special role, since money is an absolutely liquid and easily replaceable asset.

Along with the indicated forms, there is mixed form a loan that combines a number of properties of the first two.

Indeed, credit can be provided both by the transfer of goods, which is characteristic of the commodity form, and by the transfer of money, which is characteristic of its monetary form. In this case, repayment will be carried out in the reverse order - in money or goods.

Depending on who is the lender and borrower in the transaction, the following loans are distinguished:

1) commercial (economic);

2) banking;

3) civil (personal);

4) state;

5) international;

6) consumer.

Commercial loan.

A commercial loan can be characterized as a loan provided by one legal entity (seller) to another legal entity (buyer) in the form of a deferred payment for goods sold, or by buyers to sellers in the form of an advance or prepayment for goods supplied.

Commercial lending is the main financial instrument sales of products in wholesale trade. Selling goods on credit has become a common way of selling them by industrial companies; it is becoming an important tool of competition by additionally attracting customers. The main reason for the widespread use of this form of credit is the expansion and strengthening economic ties between business entities.

In modern conditions, mainly three types (types) of commercial loans are used in practice:

1) with fixed term repayment;

2) with payment of the price only after the borrower has actually sold the goods delivered in installments (consignment);

3) lending by open account.

In the first case, after delivery of goods, the buyer transfers a promissory note to the seller as a promissory note to pay for the goods after a certain period. Or the seller himself issues a draft (bill of exchange) to the buyer, who, having received the commercial documents, accepts it, that is, agrees to payment within the period indicated on it.

In the second case, we are dealing with consignment. It is a method of trading on credit in which the retailer receives goods without the obligation to pay for them. This trade is often spoken of as the transfer of goods for sale. If the goods are sold, then payment will be made to the manufacturer, and if not, the retailer can return the goods to the manufacturer without paying a penalty. Consignment is usually used when selling new, atypical goods, the demand for which is difficult to predict.

Under an open account agreement, once accepted by both parties, the buyer has the right to make periodic purchases without having to apply for credit on a case-by-case basis. Normal order transaction is as follows: when the buyer orders a product, it is immediately shipped, and payment for it is made in deadlines after receiving the invoice.

The use of a commercial loan requires the seller to have sufficient capital in case of a slowdown in receipts from debtors. Therefore, in the modern economy, commercial credit is actively used primarily large companies, which have the most favorable conditions for obtaining financial resources through accounting and pledging bills and through bank refinancing of a commercial loan (for example, factoring).

Bank loan.

This is a loan whose main form is the transfer of funds. Provided exclusively by specialized credit institutions licensed to carry out such operations from Central Bank. The borrower can be legal entities, state or local authorities. Credit relations are formalized by a credit agreement or a credit agreement.

A bank loan differs from a commercial loan in the following ways:

a) the role of the lender for a bank loan is performed by specialized credit and financial organizations, and not by any legal entities associated with the production or sale of goods;

b) the average interest rate on a commercial loan is usually lower than the average bank interest rate for a given period of time. The commercial loan fee is included in the price of the product, and is not specifically determined through a fixed percentage of the base amount;

c) the term of a commercial loan is usually much shorter than that of bank loan.

A bank loan is classified according to a number of criteria.

Method of issuing (providing) a loan:

a) cash or non-cash loans (by transferring funds from account to account or by issuing cash from an account);

b) refinancing (rediscounting bills, purchasing resources on the interbank market, issuing commercial bank bonds and other debt obligations);

c) re-registration (debt restructuring);

d) bill loans.

Loan currency. Loans are provided in national currency, in the currency of the creditor's country, in the currency of a third country.

Number of participants. Bilateral and multilateral transactions are possible (lending by a banking consortium, syndicated loans).

Purpose of a bank loan.

Loans are provided:

a) to increase fixed capital (renewal of production assets, new construction, expansion of production volumes);

b) for temporary replenishment working capital

c) for the implementation of investment projects;

d) mortgage loans, etc.

Delivery technique:

a) one-time loans, i.e. issued in one amount;

b) limited loans (overdraft; credit lines).

Credit line involves the use of borrowed funds within established limit. Within its framework, enterprises can receive funds for purposes provided for by the agreement, and repay them during the term of the credit line agreement. There are the following types of credit lines: seasonal; renewable, i.e. the client, after repaying the loan debt, has the right to receive a loan again within the established limit; credit line notifying the client about the upper lending limit, exceeding which is unacceptable, or involves paying increased interest for exceeding it; confirmed line - each time the client is required to agree on the conditions for providing a specific amount within the credit line.

Overdraft represents the elimination of a temporary shortage of working capital for an enterprise to make current payments by crediting the bank client's current account using the bank's funds in the amount of no more than 10-15% of the monthly turnover on the client's current account. It is provided, as a rule, against the receipt of funds in the client’s current account, which are immediately written off to repay the overdraft, i.e., in fact, without collateral (although it may be provided for under an agreement with the bank).

By criterion security Loans are divided into secured and unsecured. The only form of ensuring the repayment of unsecured loans is a loan agreement. Secured loans are the main type of modern bank loan, in which one of the basic principles lending. The security can be any property owned by the borrower, most often real estate or securities. If the borrower violates its obligations, this property is sold to compensate for losses incurred. The size of the loan issued is usually less than the average market value of the proposed collateral and is determined by agreement of the parties.

Maturity.

Depending on the repayment period, loans are divided into short-term, medium-term and long-term.

A) Short term loans are provided, as a rule, to replenish working capital (current lending working capital) borrower. Most actively used in stock market, in trade and services. The repayment period for this type of loan usually does not exceed one year.

b) Medium term loans are provided for a period of one to three years for purposes of both production and purely commercial nature. They are most widespread in the agricultural sector and with partial modernization of production.

V) Long-term loans are used, as a rule, for investment purposes. Like medium-term loans, they service the movement of fixed assets, characterized by large volumes of transferred credit resources. They are used for lending for reconstruction, technical re-equipment, and new construction at enterprises in all sectors of the economy. The average repayment period is usually from three to five years, but can reach 25 years or more, especially if appropriate financial guarantees are obtained from the state.

By repayment methods loans are divided into:

1) loans repaid in one amount at the end of the term;

2) loans repayable in installments;

3) loans repaid in unequal installments over the loan term (usually with a grace period).

Loans repayable one-time contribution(payment) on the part of the borrower is a traditional form of repayment of short-term loans, very functional from the standpoint of legal registration, since it does not require the use of a mechanism for calculating differentiated interest.

Specific conditions (procedure) for the return of loans repaid in installments during the entire term of the loan agreement, are determined by the agreement, and are used, as a rule, for medium-term loans. For long-term loans for investment purposes it is often used Grace period(up to a year), during which the borrower does not pay either interest or part of the debt. During this time, the borrower manages to install the equipment and start production.

By type of interest rate loans are divided into: loans with a fixed interest rate and loans with a floating interest rate.

According to various methods of charging interest There are several types of loans:

a) loans on which interest is paid at the time of its total repayment. Traditional for market economy a form of payment for short-term loans that is the most functional in terms of ease of calculation.

b) loans, the interest on which is paid in equal installments by the borrower throughout the entire term of the loan agreement. A traditional form of payment for medium- and long-term loans, which has a fairly differentiated nature depending on the agreement of the parties (for example, for long-term loans, interest payments can begin both after the end of the first year of using the loan, and after a longer period).

c) loans, the interest on which is withheld by the bank at the time of its immediate issuance to the borrower. For a developed market economy, this form is absolutely uncharacteristic and is used only when inflation is high.

Civil (personal) loan.

This basic form of credit is characterized by the participation of individual citizens in credit relations. They act as lenders and borrowers to each other when borrowing money or goods for personal rather than business purposes. In general, these relationships are of a local (family, kinship) nature and are not formalized in a loan agreement.

State loan.

The main feature of this form of credit is the indispensable participation of the state in the person of central and local executive authorities. The subjects of state credit are legal entities and individuals, on the one hand, and central and local authorities, on the other. The state acts as a borrower or lender. Traditionally, this form of credit is associated with the issue of government bonds or other securities and is called a government loan. Much less often, the state acts as a creditor, providing loans to legal and individuals.

State credit also includes the provision by the state of guarantees for borrowed obligations of legal entities and individuals.

Government loans can be divided into types according to the following criteria:

1) by deadlines for provision loans: short-term (with a repayment period of up to 1 year), medium-term (from 1 to 5 years) and long-term (over 5 years) loans;

2) by location: internal and external (international) loans;

3) by subjects of relations: loans placed by central and local authorities;

4) by market status: market (freely placed on the stock market) and non-market - loans that are not subject to circulation on the market. They are designed for certain (target) categories of investors;

5) by profitability: interest or zero coupon.

Interest-bearing loans involve (from 2 to 4 times a year) the payment of income on coupons - tear-off receipts of the bond. Short-term loans typically do not have coupons. They are sold at a discount from the face value specified on the bonds, and are redeemed at face value. The difference is the amount of income on the bond.

6) by method of determining income: with fixed income and floating income.

International credit.

International credit is a loan that characterizes the form of credit relations between states or between economic entities in different countries.

It is used in the form:

1) commercial (intercompany);

2) banking;

3) interstate credit.

At the same time, in credit relations with the participation of states and international institutions it always appears in monetary form, in foreign trade activities - in monetary and commodity form (as a type of commercial loan to an importer or exporter).

The borrowers and lenders are private enterprises (including banks), government institutions (ministries and departments) and international (IMF, IBRD) and regional (EBRD) financial organizations.

Specific types of international credit can be classified according to a number of criteria:

1) by intended purpose: commercial or cash loans, including funds for the acquisition of fixed capital, new construction, and other investment needs;

2) by deadline for submission: short-term, medium-term and long-term loans;

3) by currency of provision: loan in the currency of the borrowing country or
creditor country, in the currency of a third country.

A characteristic feature of an international loan is its additional legal or economic protection in the form of private insurance and government guarantees.

Consumer loan.

This is a form of lending to individuals. The goal is satisfaction consumer needs population - for the purchase of land, housing, dachas, cars, durable goods. Provided against a mortgage (mortgage) of land, housing, car pledge, securities, guarantee of third parties.

The role of a lender can be either specialized financial and credit organizations and banks, as well as any legal entities that sell goods or services.

Typically, durable goods (cars, refrigerators, furniture, household appliances) are sold with the help of such a loan. The loan term is up to 3 years, the interest rate is from 10 to 25. The population in industrial developed countries spends 10 to 20% of its annual income on consumer debt. In case of non-payment, the property is seized by the creditor.

The form of credit is the types of credit arising from the essence of credit relations. The loan structure includes the lender, the borrower and the value lent.

Classification of loan forms

Today, a person is rarely limited to one loan; most have a comprehensive package banking services, which also includes deposits, credit and debit cards etc. In addition, the development of lending has led to the fact that forms of credit also do not stand still.

The expansion of the range of banking services is accompanied by proportional growth banking risks, associated both with attracting new, smaller and less reliable clients, and with increasing the complexity of the lending services provided.

In this regard, a set of mechanisms designed to reduce loan risks depending on the form of the loan is of great importance.

The forms of credit depending on its value are as follows:

commodity form - lending is carried out in goods; sale of goods in installments, rental of things, leasing of equipment are often accompanied by a monetary form of credit;

monetary form - appeared with the emergence of the monetary form of value, the most common;

mixed form (commodity-money) - the loan is provided in the form of goods and is returned in cash or vice versa; used in economics developing countries.

direct form - issuing a loan to the borrower without intermediate links;

indirect form - a loan is taken to lend to another economic entity;

explicit form - the loan is provided for pre-agreed purposes;

hidden form - the loan is used for unintended purposes (for example, for the implementation of currency arbitrage);

an old form that appeared at the beginning of the development of credit relations (for example, usurious credit);

a new form, which should include a leasing loan, a loan using plastic cards;

a developed form of credit, which includes a bank loan;

the undeveloped form reflects an insufficient degree of development

credit relations (pawn loan).

Depending on the subjects of lending, the following forms of credit are distinguished.

Bank loan- a form of credit relations in the economy, when one of the subjects of a credit transaction is a specialized financial and credit institution licensed by the Central Bank. Its instrument is a loan agreement or loan agreement. At the same time, the funds provided on credit are capital for the bank, generating profit.

Interbank loan- credit institutions are the lender and the borrower.

Civil loan (personal)- individual citizens participate as subjects in a credit transaction; in this case, a credit agreement is usually not concluded, but a promissory note is more often used.

Commercial loan (economic)- a loan provided by enterprises and other economic entities to each other for the purpose of accelerating the sale of goods. These relationships manifest themselves between legal entities in the form of sales of products, works, services with deferred payment, i.e. it is based on the deferment of payment by the enterprise - the seller for the goods and the provision by the enterprise - the buyer of a bill of exchange as debt obligation, pay the purchase price after a certain period. Restrictions on the use of commercial loans:

firstly, the size of a commercial loan is limited by the amount reserve fund creditor enterprises;

secondly - cannot be used to issue wages, since it is often provided in commodity form.

State loan - this form of loan combines two concepts:

• a) the state is a creditor, i.e. the state performs the functions of a creditor. It's through central bank carries out lending to individual regions, specific industries experiencing an increased need for financial resources, as well as commercial banks in the process of selling credit resources on the interbank loan market;
• b) the state is the borrower, i.e. in the process of placing government loans when carrying out operations on the government short-term securities market. The main source of government credit are government bonds, which can be issued by central and local governments. The state uses this form to cover the state budget deficit.

International loan- a set of credit relations operating on international level, with additional legal and economic protection.

Here the same entities enter into credit relations:

• - banks
• - enterprises
• - state
• - population

However, one of the participants in the credit transaction must belong to another country. In addition, international credit and financial institutions (IMF, IBRD, etc.) can be participants in an international loan.

Usurious loan- occurs by issuing loans to individuals or business entities that do not have a license from the Central Bank. Characterized by ultra-high interest rates (from 100 to 200%) even in foreign exchange transactions. Usurious credit arose from the underdeveloped infrastructure of the national credit system and the inaccessibility of funds for individual categories borrowers.

Forms of credit according to a unified classification.

In global banking practice, there is no unified classification of banking forms of credit. This is due to differences in the level of development of banking systems in different countries, their established methods of providing loans. However, most often in the economic literature there is a classification of loan forms according to the following criteria:

• - purpose (purpose of the loan);
• - area of ​​use;
• - terms of use;
• - provision;
• - method of issue and repayment;
• - types of interest rates.

According to their purpose, bank loans can be divided into the following groups:

• - industrial
• - agricultural
• - investment
• - consumer
• - mortgage

Industrial loans are provided to enterprises and organizations for the development of production and to cover the costs of purchasing materials.

Agricultural loans are provided to farmers and peasant farms in order to facilitate their activities in cultivating the land, harvesting crops, etc.

Consumer loans are provided to individuals to cover urgent needs, repairs and purchase of apartments and houses.

Mortgage loans are issued against real estate for the purpose of construction, acquisition or reconstruction of housing.

Depending on the area of ​​use, bank loans can be of two types: loans for capital investments and covering current needs.

Bank loans are also divided by terms of use into on-call (on demand) and urgent.

On-call loans are repayable within a fixed period after formal notification from the lender. Currently, this form of credit is practically not used in Russia, as it requires stable conditions in the loan capital market.

Term loans, in turn, are divided into short-term, medium-term and long-term. In modern banking mainly used various shapes short term loan.

According to collateral, loans can be unsecured (blank) and secured. Blank loans are issued to reliable borrowers, without the use of any form of loan repayment security.

Secured loans are the main form of bank credit. Depending on the type of security, they are usually divided into collateral, guaranteed and insured.

A secured loan is a loan that is secured in the form of collateral in cases where the collateral simultaneously meets the following requirements:

• 1. its real (market) value is sufficient to compensate the bank for the principal amount of the loan, all interest in accordance with the agreement, as well as possible costs associated with the implementation of collateral rights;
• 2. all legal documentation in relation to the bank's pledge rights is drawn up in such a way that the time required for the sale of the pledge does not exceed 150 days from the day when the realization of the pledge rights becomes necessary for the bank.

An undersecured loan is a loan that is secured in the form of collateral that does not meet at least one of the requirements for collateral for a secured loan.

An unsecured loan is a loan that does not have collateral or is secured in the form of collateral that does not meet the requirements for collateral for secured loans.

Based on the method of issuance, loan forms can be divided into loans of a compensatory and payment nature. A compensation loan involves sending loan funds to the borrower’s current account in order to reimburse expenses incurred from it. The essence of a payment loan is that the borrower, as necessary, provides the bank with the settlement and payment documents received by him, and the loan funds are transferred directly to pay for these documents.

According to the methods of repayment, loan forms are divided into loans repaid in one lump sum, and loans repaid in installments, repaid in a lump sum payment, are a traditional form of repayment of a short-term loan, since they are convenient from the standpoint of legal registration. Installment loans require repayment of the loan in two or more payments over the entire loan term. Specific repayment conditions are determined in the loan agreement and depend on the object of lending, the form of the loan, inflationary processes and a number of other factors.

Based on the types of interest rates, loan forms can be divided into loans with a fixed or floating interest rate. Loans with a fixed interest rate presuppose the establishment of an interest rate specified in the agreement for the entire loan period without the right to revise it. IN in this case the borrower undertakes to pay interest at the agreed rate, regardless of changes in the capital market. IN Russian practice Bank lending primarily uses fixed interest rates. Floating rate lending involves the use of an interest rate that is adjusted periodically. In this case, the interest rate consists of two components: the main rate, which varies depending on market conditions, and the premium, which is a fixed amount and determined by agreement on rates.

By size, bank loans are divided into small, medium and large. In banking practice, there is no unified approach to classifying loans according to this criterion. In Russia, a large loan is considered to be a loan to one borrower that exceeds 5% of the bank’s capital.

Thus, forms of credit are the external manifestations of a credit transaction.

credit market form resource

By nature of the value lent Credit is divided into three forms:

Product form credit historically precedes the monetary form. In this form of credit, goods are loaned. At the same time, the goods that are the object of the loan ensure its return. Goods are used in economic circulation and are most often repaid in money. The goods become the property of the borrower only after the loan is repaid and interest is paid.

Monetary form loan - the classic form of credit, meaning that temporarily available funds are lent. The monetary form is the most typical due to the fact that money is the universal equivalent in the exchange of commodity values, a universal means of circulation and payment. This form of loan largely depends on the situation in the economy, the level of inflation, unemployment, etc. This form of credit is used by both the state and individuals both within the country and in foreign trade.

Mixed (commodity-money) form loan. In this case, the loan is provided in the form of goods, and is returned in money, or vice versa. Widely used in developing countries, when borrowed funds are repaid internationally through goods deliveries.

Bank loan

With this form of credit, only monetary capital is used. This loan is provided exclusively by financial institutions licensed by the Central Bank of the Russian Federation to conduct this type of operation. The scope of this loan is much wider than commercial.

The bank loan form has the following features:

the bank, as a rule, operates not so much with its capital as with attracted resources;

the bank lends idle capital;

The bank lends not just money, but money as capital.

The price for using bank loans is loan interest, determined on a mutually beneficial basis between the subjects of credit relations and fixed in the loan agreement.

Commercial loan means that the creditor is not a credit institution, but the loan is provided during a trade transaction, which is why it is also called trade. A loan can be provided by any entity that has temporarily free funds at its disposal.

Commercial credit is one of the first forms of credit relations in the economy, which gave rise to bill circulation and thereby actively contributed to the development of non-cash money circulation, finding practical expression of financial and economic relations between legal entities in the form of sales of products or services by deferred payment. The main purpose of this form of credit is to speed up the process of selling goods and, therefore, extract the profit inherent in them.

The instrument of commercial credit is traditionally bill of exchange, expressing the financial obligations of the borrower towards the lender. The most widespread are two forms of promissory notes - a simple promissory note, containing the direct obligation of the borrower to pay the established amount directly to the creditor, and a transferable one (draft), which represents a written order to the borrower from the creditor to pay the established amount to a third party or to the bearer of the bill. In modern conditions, the functions of a bill of exchange are often assumed by a standard agreement between the supplier and the consumer, which regulates the procedure for paying for products sold on the terms of a commercial loan. A commercial loan is fundamentally different from a bank loan:

the role of creditor is not specialized financial institutions, but any legal entities associated with the production or sale of goods or services;

provided exclusively in commodity form;

loan capital is integrated with industrial or commercial capital, which in modern conditions has found practical expression in the creation of financial companies, holdings and other similar structures, including enterprises of various specializations and areas of activity;

the average cost of a commercial loan is always lower than the average bank interest rate for a given period of time;

when legally registering a transaction between a lender and a borrower, the fee for this loan is included in the price of the product, and is not specifically determined, for example, through a fixed percentage of the base amount.

In foreign practice, commercial credit has become extremely widespread. For example, in Italy, up to 85% of the amount of transactions in wholesale trade is carried out on commercial credit terms, and average term according to it is about 60 days, which significantly exceeds the period of actual sale of goods to direct consumers. In Russia, until recently, this form of lending was limited to the sphere of circulation. In other industries, its spread was objectively hampered by such factors as high inflation rates, the crisis of non-payments, unreliable partnerships, and shortcomings of specific laws.

In modern conditions, mainly three types of commercial loans are used in practice:

loan with a fixed repayment period;

a loan with repayment only after the borrower actually sells the goods delivered in installments;

Open account lending, when the next batch of goods is delivered on commercial credit terms until the debt on the previous delivery is repaid.

State loan

The main feature is the participation of the state or local authorities at various levels. State credit is provided from budget funds.

Carrying out the functions of a creditor, the state, through the central bank, provides loans to:

specific industries or regions that have a special need for financial resources, if the possibilities of budget financing have already been exhausted, and loans from commercial banks cannot be attracted due to market factors;

commercial banks in the process of auction or direct sale of credit resources on the interbank loan market;

targeted programs of international relations.

The state acts as a borrower in the process of placing government loans or when carrying out transactions in the market for government short-term securities. The main form of credit relations with a state loan is one in which the state acts as a borrower of funds. It should be noted that during the transition period it should be used not only as a source of attracting financial resources, but also as an effective tool for centralized credit regulation of the economy.

International credit - a set of credit relations operating at the international level, the direct participants of which are the state and international financial institutions (IMF, IBRD, etc.). A distinctive feature is that one of the participants in credit relations belongs to another country.

In relations involving states in general and international institutions, credit always appears in monetary form; in foreign trade activities, also in commodity form (as a type of commercial loan to an importer). It is classified according to several basic characteristics:

by the nature of loans - interstate, private;

by form - state, banking, commercial;

by location in the system foreign trade- export lending, import lending.

A characteristic feature of an international loan is its additional legal or economic protection in the form of private insurance and government guarantees.

When regimes change, new authorities do not always recognize the obligations of their predecessors. On the day of assistance to states and commercial creditors in solving this problem, clubs of international creditors were created: the Paris Club unites creditor states, the London Club includes international commercial creditors.

Civil form of loan(private, personal, usurious). This form of credit was the first in the history of credit and existed in commodity form, then it developed in monetary form. It is usurious in nature. This credit is implemented by issuing loans to individuals, as well as business entities that do not have the appropriate license from the central bank. It is characterized by extremely high loan interest rates and often criminal methods of collection from the defaulter.

This form of loan can also be of a friendly nature. It is based on mutual trust and is not accompanied by the conclusion of an agreement. Promissory notes that have notarized certificates are used.

Production credit provided for entrepreneurial purposes: expansion of production, work, services, assets. Production credit directly affects the increase in the supply of goods, works, services, assets, factors of production, and increases the standard of living of the population.

Consumer loan. A characteristic feature of consumer credit is the relationship of both monetary and commodity capital, with potential borrowers being individuals.

Unlike the production form, this loan is used by the population for consumption purposes; it is not aimed at creating new value.

Both specialized credit organizations and any legal entities that sell goods or services can act as a lender. In cash consumer loan provided as a bank loan to an individual for the purchase of real estate, payment for expensive treatment, etc., in the commodity - in the process of retail sale of goods with deferred payment. In Russia, this type of loan is just becoming widespread and is used to a limited extent in lending secured by real estate (most often housing). In foreign practice, consumer credit covers all segments of the working population, mainly through various credit card systems.

Other forms of credit

In addition, a loan can be classified according to other criteria. Thus, there is a financial form of credit, direct and indirect, explicit and hidden, basic and additional, developed and undeveloped.

Financial loan used to conduct transactions with financial assets: securities, currency, various instruments of the loan capital market. It helps satisfy the demand for speculative capital.

Direct form of loan reflects the direct issuance of a loan to the user without intermediaries.

Indirect form of credit involves taking out a loan to lend to other entities. Typically used for financing the purchase of agricultural products.

Under explicit form of credit refers to a loan for a predetermined purpose. New forms of credit include leasing loan and a number of others.

The main form of credit is This cash loan, while trade credit is its additional form.

Developed and undeveloped forms of credit characterize the degree of its development. An undeveloped form of credit includes a pawnshop loan.

There are financial and commercial forms of credit.

When financial form the borrower contacts the bank directly. Forms of submission financial loan to the borrower may be different. The most common are the following:

Urgent loan- This is a common form of credit. The bank transfers the loan amount to the borrower's current account. At the end of the term, the loan is repaid, that is, the borrower transfers the corresponding amount of money from his current account to the bank.

When current credit A special loan account is opened for the borrower at the bank - a current account. Contocorrente (Italian conto corrente - current account) is a single account on which all transactions of the bank with the client are recorded. The current account reflects, on the one hand, the bank's loan and all payments from the account on behalf of the client, and on the other hand, funds received by the bank from clients in the form of revenue, deposits, loan repayment, etc. The current account is a combination of a loan account with a current and may have a debit and credit balance.

On call loan(eng. loan/money/on/call - loan on demand) - a short-term loan that is repaid on demand; issued, as a rule, secured by securities and goods. Within the limits of the secured loan, the bank pays all bills of the business entity. The loan is repaid upon the bank's first request using funds received to the borrower's account or by selling the collateral. The on-call loan is usually repaid by the borrower with a warning of 2-7 days. The interest rate on this loan is lower than on term loans. From the point of view of repayment period and quality of collateral, an on-call loan is considered the most liquid item of a bank's asset after cash.

Loan secured by real estate (mortgage) is taken to cover large capital costs. It is especially effectively used when lending to new construction. In this case, the construction project is subject to collateral. The pledge can be issued in stages as the construction progresses. Then, accordingly, the loan is allocated in parts.

Pawn loan- this is a type of financial loan, it is provided to commercial banks on behalf of the Central Bank of the Russian Federation by the Main Directorate (National Bank) of the Bank of Russia secured by government securities.

Overdraft(English overdraft) is a negative balance in the current account of a bank client. An overdraft is a form of short-term loan, the provision of which is carried out by the bank writing off funds from the client's account in excess of its balance. As a result of such an operation, a negative balance is formed, i.e. a debit balance - the client's debt to the bank. The bank and the client enter into an agreement between themselves, which establishes maximum amount overdraft, conditions for the delivery of the loan, the procedure for repaying it, the amount of interest on the loan. With an overdraft, all amounts credited to the client’s current account are used to repay the debt. Therefore, the volume of the loan changes as funds become available, which distinguishes an overdraft from a regular loan.

Commercial loan- these are settlements with installments or deferred payment of one business entity or entrepreneur by another business entity.

The main types of credit as a type of settlement (payment by installments) are:

Company loan is a traditional form of lending in which the supplier (seller) provides credit to the buyer in the form of deferred payment. A type of corporate loan is an advance from the buyer, which is paid to the supplier (seller) after signing the agreement (contract).

Bill (account) loan. The bank provides a bill (discount) loan to the bill holder by purchasing (discounting) the bill before the due date. The owner of the bill receives from the bank the amount specified in the bill, minus discount interest, commission payments and other expenses. Closing of an account loan is carried out on the basis of bank notifications about payment of the bill.

Factoring(English factor - intermediary) is a type of trade and commission operation associated with lending working capital. Factoring is collection accounts receivable buyer and is a specific type of short-term lending and intermediary activity. Factoring includes:

1) collection (collection) of the buyer’s receivables;

2) providing the seller with a short-term loan;

3) release of the seller from credit risks by operations.

The main purpose of factoring is to receive funds immediately or within the period specified in the contract. As a result, the seller does not depend on the buyer’s solvency. The bank enters into an agreement with the buyer to guarantee his payments in the event of financial difficulties or with the seller and buyer to assign payment documents not paid on time to the bank's factoring department.

The subject of the assignment for which financing is provided can be either a monetary claim for which the payment term has already arrived (existing claims) or the right to receive funds that arises in the future (future claim).

Forfeiting(French forfai - entirely, total amount) is a form of export lending by a bank or financial company by purchasing, without recourse to the seller, bills and other debt claims for foreign trade transactions. Forging, as a rule, is used when supplying machinery and equipment to large sums with long-term payment in installments (up to 7 years).

The mechanism of forfeiting is as follows. Forfetor (bank or finance company) purchases a bill of exchange from the exporter at a certain discount, i.e. minus the entire amount of interest. The size of the discount depends on the solvency of the importer, the term of the loan, and market interest rates in a given currency. The forfetor can resell the bills purchased from the exporter on the secondary market.

Open account loan. For export-import operations, it also means settlements on an open account. These loans are provided in settlements between regular partners (counterparties), especially for multiple deliveries of similar goods. The essence of loans or settlements on an open account is that the seller ships the goods to the buyer and sends documents of title to him, debiting the amount of the debt to the account opened in the name of the buyer. Within the terms specified in the contract, the buyer repays his debt on the open account.

Acceptance credit- a loan provided by the bank and the form of acceptance of a bill of exchange (draft) issued to the bank by exporters and importers. With this form of credit, the exporter has the opportunity to issue bills of exchange to the bank for a certain amount within credit limit. The bank accepts these bills, thereby guaranteeing their payment by the debtor on time.

When selling goods on credit, exporters are interested in accepting

The term "acceptance credit" is usually used in cases where banks accept drafts only from exporters of their country. A type of acceptance credit is acceptance-rambus credit.

Rambus(French rembouser) in international trade means payment for purchased goods through a bank, in the form of acceptance by the importer's bank of drafts issued by the exporter. The term “acceptance-rambus credit” is used in cases where banks accept drafts issued to them by foreign commercial banks. These banks play a supporting role and assume responsibility to the accepting banks for the timely transfer (rembusting) to their accounts of the currency necessary for payment of accepted drafts.

11.1. Loan forms

The forms of credit are closely related to its structure and, to a certain extent, to the essence of credit relations. The loan structure includes, as noted earlier, the lender, the borrower and the value lent, so the forms of loan can be considered depending on the nature:

Lent value;

Lender and borrower;

Target needs of the borrower.

Depending on the loaned value, it is advisable to distinguish between commodity, monetary and mixed (commodity-money) forms of credit.

Commodity form of loan historically precedes its monetary form. It can be assumed that credit existed before the monetary form of value, when equivalent exchange used individual products(furs, livestock, etc.). The first creditors were entities with surplus consumer goods. In recent history, there are known cases of landowners lending to peasants in the form of grain and other agricultural products before the new harvest.

In modern practice, the commodity form of credit is not fundamental. The predominant form is the monetary form of the loan, but its commodity form is also used. The latter form of credit is used both when selling goods in installments, and when renting property (including leasing equipment), and renting things. Practice shows that the creditor who has provided the goods for payment in installments feels the need for a loan, and mainly in cash. It can be noted that where the commodity form of credit operates, its movement is often accompanied by the monetary form of credit.

Cash form of loan - the most typical, predominant in the modern economy. This is understandable, since money is the universal equivalent in the exchange of commodity values, a universal means of circulation and payment. This form of credit is actively used by both the state and individual citizens, both within the country and in foreign economic turnover.

Along with commodity and monetary forms of credit, its mixed form is also used. It arises, for example, in the case when credit operates simultaneously in commodity and monetary forms. It can be assumed that in order to purchase expensive equipment, you will need not only a leasing form of credit, but also a monetary form for the installation and commissioning of the purchased equipment.

As already noted, a loan comes down not only to the stage of providing funds for temporary use, but also has other stages, including the return of the loaned value. If the loan was provided in cash and its return was also made in money, then this transaction represents a cash loan. The commodity form of credit can be recognized only in those credit transactions in which the provision and return of the loaned funds occur in the form of commodity values.

If the loan was provided in the form of a product and returned in money, or vice versa (provided in money and returned in the form of a product), then it is more correct to consider that there is a mixed form of credit.

Mixed (commodity-money) form credit is often used in the economies of developing countries, which pay for money loans with periodic deliveries of their goods (mainly in the form of raw materials and agricultural products). In the domestic economy, the sale of goods in installments is accompanied by the gradual repayment of the loan in cash.

Depending. who is the creditor in a credit transaction? The following forms of credit are distinguished: banking, economic (commercial), state, international, civil (private, personal). At the same time, not only the lender, but also the borrower participates in a credit transaction; in a credit transaction they are equal subjects. The supply of loans comes from the lender, the demand from the borrower.

If a bank, for example, provides a loan to the population, and an individual puts his savings on a deposit with the bank, then in these cases there is the same composition of participants (bank and population). At the same time, each party occupies a different position here: in the first case, the bank serves as a creditor; in the second - by the borrower; in turn, in the first case, the individual acts as a borrower, in the second - as a lender. The lender and the borrower change places: the lender becomes the borrower, the borrower becomes the lender. This also changes the form of credit.

Bank loan form - the most common form. This means that it is banks that most often provide their loans to entities in need of temporary financial assistance. In terms of volume, the loan under the bank form of credit is significantly larger than the loans issued under each of its other forms. This is no coincidence. The bank is a special entity, the fundamental activity of which is most often credit business; it carries out repeated circulation of funds on a repayable basis.

The first feature of the banking form of credit is that the bank operates not so much with its own capital as with attracted resources. Having borrowed money from some entities, he redistributes it, providing a loan for temporary use to other legal entities and individuals.

The second feature is that the bank lends idle capital, temporarily free funds placed in the bank by business entities in accounts or deposits.

The third feature of this form of loan is characterized by the following. The bank lends not just money, but money as capital. This means that the borrower must use the funds received from the bank in such a way as to not only return them to the lender, but also make a profit sufficient to at least in order to pay loan interest. The payment of a bank loan form becomes its integral attribute.

At economic (commercial) form of credit creditors are business organizations (enterprises, firms, companies). Due to historical tradition, this form is quite often called a commercial loan, sometimes a bill of exchange loan, since it is based on the seller’s deferment of payment for the goods and the provision by the buyer of a bill as its debt obligation to pay the purchase price after a certain period. Probably, the term “commercial” loan arose as a reaction to the debt relationship that arises between the supplier and the buyer when shipping goods and providing a contractual deferred payment. The concept “commercial” means trading, i.e. what was formed on the basis special conditions sales of goods.

The evolution of relationships between enterprises gives rise not only to deferred payment for goods, but also to other forms. In the modern economy, enterprises provide each other with not only commodity, often not so much commodity, but monetary credit. Banks have ceased to be monopolists in the implementation of credit operations; loans can be provided by almost all enterprises and organizations that have available funds. The situation has become typical when large industrial and trading enterprises and organizations issue cash loans to their partners. The term “commercial” loan in its classical sense is inferior to its interpretation as a business loan provided by creditor enterprises in commodity and monetary forms.

The economic (commercial) form of credit has a number of features. First of all, its source is both employed and unemployed capital. In the commodity form of a business loan, deferred payment serves as a continuation of the process of selling products; what is lent is not the temporarily released value, but an ordinary product with a deferred payment. In the monetary form of a business loan, its source is funds temporarily released from economic circulation. It is also important that with a commodity business loan, ownership of the object of transfer passes from the seller-lender to the buyer; with a cash business loan, ownership of the loaned value does not pass from the lender to the borrower, the latter receives it only for temporary possession. Payment for using a loan is carried out in different ways. With a commodity business loan, the fee for deferred payment is included in the price of the goods; with a cash business loan, the fee for using the loan is charged in an open form - in addition to the amount of the loan returned to the lender, the borrower additionally pays the loan interest.

Economic credit, regardless of its commodity or monetary form, is provided mainly for short periods, while, for example, a bank loan is often long-term in nature.

State form of loan arises when the state, as a creditor, provides credit to various entities. A state loan should be distinguished from a state loan, where the state, by placing its obligations, bonds, etc., acts as a borrower. Government loans are most often placed under certain government programs(for the purpose of restoring the national economy in the post-war period, developing the national economy, including its individual sectors, etc.). Loans are usually placed on long terms(for five, ten and even twenty years). Unlike government loans, which are widespread in the modern economy, state uniform credit has limited application compared to other forms; it is most often provided through banks, as well as in the field of international economic relations, essentially becomes an international form of credit.

At international form of credit the composition of the participants in the credit transaction does not change, the same entities enter into credit relations - banks, enterprises, the state and the population, however, the distinctive feature of this form is that one of the participants belongs to another country. Here one of the parties is a foreign entity.

Although Russia provides loans to foreign entities, it acts more as a borrower than as a lender.

Civil form of loan is based on participation in a credit transaction as a creditor of individual citizens, private individuals. This transaction is sometimes called a private (personal) loan. The civil (private, personal) form of credit can be both monetary and commodity in nature, and is used in relationships with any of the other participants in credit relations.

In the relationships of private individuals with each other, this form of credit is often of a friendly nature: the loan interest is set at a lower amount than in banks, and in some cases it is not collected; a loan agreement is not concluded; a promissory note is more often used, but it is often not used. The element of trust takes on increased importance here. The term of such a loan is not rigid; it is often conditional.

As noted earlier, forms of credit can also be distinguished depending on the target needs of the borrower. In this regard, two forms are distinguished: productive and consumer forms of credit.

Productive form a loan is associated with the peculiarity of using the funds received from the lender. This form of credit is characterized by the use of loans for the purposes of production and circulation, for productive purposes.

Just as in the case of the commodity form of credit, it can be assumed that it consumer form historically arose at the beginning of the development of credit relations, when some subjects felt an excess of consumer goods, others had a need for their temporary use. Over time, this form has become widespread in the modern economy, allowing entities to speed up the satisfaction of the needs of the population, primarily in durable goods.

The consumer form of credit, in contrast to its productive form, is used by the population for the purpose of consumption; it is not aimed at creating new value; it aims to satisfy the consumer needs of the borrower. Consumer loans can be obtained not only by individual citizens to satisfy their personal needs, but also by enterprises that do not create, but “eat up” the created value.

Modern credit is predominantly productive in nature. As noted earlier, bank credit has a decisive share among the various forms of credit. This means that the borrower not only must repay the loan, but also pay interest on the loan. In a modern economy, credit is lent not simply in the form of money, but in the form of money as capital. The movement of money as capital, as an increasing value, determines the productive use of the loan, requires the borrower to place borrowed funds in such a way that presupposes their rational, productive use, the creation of new value, profit, partially conceded to the lender in the form of a fee for temporary borrowing of the loaned value.

This does not exclude cases where the loan covers losses from the activities of enterprises. Here the form of the loan comes into conflict with its content, ultimately the laws of credit are violated, the course of the credit process is disrupted, credit is taken from the factor economic growth turns into a tool for exacerbating imbalances in economic development.

There are no pure forms of credit isolated from each other. A bank loan, for example, although provided in cash, is in practice repaid in the form of goods. Often this situation is caused by exceptional circumstances. Thus, in Russia during the modern period economic crisis 90s and strong inflation, banks collected the loan by receiving corresponding amounts of goods from the borrower. There are cases when borrowing enterprises paid banks for previously received loans with sugar, which bank employees sold at a reasonable price to clients and acquaintances.

This applies to other forms of credit as well. A bank loan, being a productive loan in nature, in practice acquires consumer characteristics. In turn, a civil loan is not always a consumer loan. Citizens can purchase a loan for the construction or renovation of a house, or the purchase of household equipment used in agricultural work. Credit to citizens for their consumer goals to a certain extent, it can be aimed at maintaining their vital functions, restoring physical strength and health, and therefore indirectly also acquires peculiar productive features.

In some cases, other forms of credit are used, in particular:

Direct and indirect;

Explicit and hidden;

Old and new;

Main (predominant) and additional;

Developed and undeveloped, etc.

Direct form of loan reflects the direct issuance of a loan to its user, without indirect links. An indirect form of credit occurs when a loan is taken out to lend to other entities. For example, if a trade organization receives a loan from a bank not only for the purchase and sale of goods, but also for lending to citizens for goods with installment payment. Indirect consumers of a bank loan are citizens who have received a loan from trade organization for the purchase of goods on credit.

Indirect lending occurred when lending to procurement organizations. In the part in which the loan was issued to the procurement organization to pay for the harvested products, a direct form of credit is observed, in the same part in which this loan was used to pay the procurement organization advances to the donors for the future harvest of agricultural products, an indirect form of credit arose.

Under explicit form of credit refers to a loan for pre-agreed purposes. Hidden form of credit arises if the loan is used for purposes not provided for by the mutual obligations of the parties.

Old form loan - a form that appeared at the beginning of the development of credit relations. For example, a commodity loan against property was the oldest form used in the early stages of social development. A slave-owning society was characterized by a usurious form of credit, which subsequently exhausted itself, however, under certain conditions, usurious payment for borrowed funds can also arise in modern life. The old form can be modernized and acquire modern features.

Towards new forms of credit can be considered a leasing loan. The object of collateral is not only traditional real estate, but also modern types of technology, new goods that are a sign of modern life (cars, yachts, expensive video equipment, computers). Modern credit serves new form credit versus its usurious form.

Basic form modern credit - monetary credit, while commodity credit acts as additional form, which is not secondary, second-rate. Each of the forms, taking into account the various criteria for their classification, complements each other, forming a specific system adequate to the corresponding level of commodity-money relations.

Developed and undeveloped forms of credit characterize the degree of its development. In this sense, a pawnshop loan is called an antediluvian, “mothball” loan that does not correspond to the modern level of relations. Despite this, this loan used in modern society, it is not developed widely enough, for example, compared to bank credit.

11.2. Types of loan

The type of loan is a more detailed description of it based on organizational and economic characteristics, used to classify loans. There are no uniform world standards for their classification. Each country has its own characteristics. In Russia, loans are classified depending on:

Stages of reproduction served by credit;

Industry focus;

Lending objects;

His security;

Urgency of lending;

Payments, etc.

Credit, as noted earlier, is a category of exchange. When selling their product, when purchasing raw materials, equipment and other goods necessary to continue their activities, commodity producers experience a significant need for additional means of payment. As an important payment instrument, credit is used to meet the diverse needs of the borrower. These needs arise not only in exchange, where the gap in payment turnover is most pronounced, but also in other stages of reproduction. Economic organizations producing the product, spend the loans received to purchase means of production, meet the needs for payroll settlements with employees, budgetary organizations. The population receives credit to meet their consumer needs. Acting as a category of exchange, credit is used to meet the needs of production, distribution and consumption of the gross product.

Credit is divided into types and depending on their industry focus. When a loan serves the needs of industrial enterprises, it is an industrial loan. There is also agricultural and trade credit. The sectoral focus of credit is often embodied in government statistics of a number of countries (loans to industry, trade, agriculture, etc. are separately highlighted). Loans and individual commercial banks are divided by industry.

The classification of the loan is also determined objects of lending. The object expresses what is opposed to credit. Most often, credit is used for the purchase of various goods (in industry - raw materials, basic and auxiliary materials, fuel, packaging, etc., in trade - goods of a varied assortment, among the population - durable goods), and here the credit is opposed by various commodity- material values. In some cases, a loan is issued to cover various production costs. For example, in agriculture the loan is mostly used for costs of crop and livestock production, in industry - for seasonal costs (repairs, preparation for the new season of production of agricultural products, etc.).

The loan object may or may not have a material form. The borrower does not necessarily take out a loan to accumulate the inventory he needs. Credit will therefore not necessarily be resisted by specific types of materials. A loan is quite often taken out due to a gap in the payment turnover, when an enterprise temporarily lacks available funds, but has obligations for various types of current payments. These may be needs related to the need to pay wages to the personnel of the enterprise, various taxes in the federal or local budget, for property insurance premiums, etc. In this case, the loan covers the lack of funds or the gap in payment turnover.

The classification of a loan by type also depends on its security. Typically, security is distinguished by nature, degree (completeness) and forms. Based on the nature of the collateral, loans are divided into those that have direct and indirect collateral. Direct collateral contains, for example, loans issued for a specific material object, for the purchase of specific types of inventory items. Indirect collateral may include, for example, loans issued to cover a gap in the payment turnover. Although the loan is issued to cover the borrower’s payment obligations, there may not be direct payment for inventory items that would directly oppose the loan, but indirect material security appears in the form inventory created from their own financial sources.

According to the degree of security, loans can be distinguished with full (sufficient), incomplete (insufficient) security and without security. Full collateral is available if the amount of collateral is equal to or greater than the amount of the loan provided. Incomplete collateral occurs when its value is less than the loan amount. The loan may not have collateral. This type of loan is called a blank loan. Most often, it is provided if the bank has sufficient confidence in the borrower and the bank is confident in the return of funds provided to the borrower for temporary use.

Securing a loan can be considered not only from the standpoint of opposing it to a certain mass of values, liquid inventories, but also certain external guarantees. In addition to the usual pledge of inventory items and property owned by the borrower, the group of loan repayment security includes various types of guarantees, sureties of third parties, insurance, etc.

When classifying a loan depending on on the urgency of lending allocate short-term, medium-term and long-term loans.

Short-term loans serve the current needs of the borrower related to the movement of working capital. Short-term loans are those loans whose repayment period is within international standards does not extend beyond one year. However, in practice their duration may not be the same. This is determined economic conditions, the degree of inflation. So, in Russia in the 90s. Due to significant inflationary processes, short-term loans often included loans with a term of up to three to six months.

Medium-term and long-term loans serve long-term needs caused by the need to modernize production and make capital expenditures to expand production.

There is no established standard term as a criterion for classifying a loan as a medium-term or long-term loan. In the USA, for example, medium-term loans are those loans whose repayment period does not extend beyond eight years, in Germany - up to six years. There is also no uniformity in the length of the term for long-term loans.

In Russia, medium-term loans included loans with a repayment period of six to twelve months, and long-term loans included loans whose repayment period extended beyond a year. Dividing loans according to their duration of operation in the borrower's household was justified, because in conditions of money depreciation, even their short-term stay in the borrower's household could lead to loss of capital safety. Strong inflation transformed the idea of ​​lending terms and changed the criteria for the urgency of lending to borrowers.

Loans can be classified by type and depending from payment for its use. Here they distinguish between paid and free, expensive and cheap loans. This division is based on the interest rate established for using the loan.

In a modern economy, credit functions as capital. This means that the lender transfers the loaned value not as a sum of money, but as a self-increasing value, which is returned to him incrementally in the form of loan interest. The borrower must use the funds received in such a way that with their help it is possible not only to ensure continuity of production, but also to create new value sufficient to pay off the creditor - to return to him the originally advanced amount and pay the loan interest. That is why credit as a cost category is of a paid nature.

However, both in ancient and in modern history There is also free credit in very limited amounts. Most often in modern economics it is used when lending to insiders (bank shareholders), with personal (friendly) forms of credit, etc.

At commodity credit(in the form of bills) deferment of payment is also not accompanied by the collection of interest. At the same time, although the loan fee does not manifest itself directly here, the interest is indirectly included in the price of the product for which payment was deferred.

Within the framework of payment for a loan, the concepts of expensive and cheap loans are used.

The concept of an expensive loan is associated with the collection of an interest rate that is higher than its market level. As a rule, this rate is set for loans that have an increased risk of non-repayment of the loan (due to the low credit rating of the borrower, questionable collateral, etc.). Other loans (with a higher interest rate) are also used as a kind of sanction for late repayment of the loan, as well as violations that contradict loan agreement with the client.

Most often, the lender differentiates the amount of payment depending on the term of the loan, the quality of the collateral, and the solvency of the borrower. Fees vary depending on economic cycle- boom, depression or economic crisis.

Expensive and cheap loans are relative concepts. For example, for Western practice, interest rates of Russian banks in the conditions of the economic crisis and inflation of mid-1990 may seem astronomical in terms of their size. However, taking into account the monthly and annual inflation rates, they no longer became the same, since the depreciation of money in 1996-1997. reached from 1 to 2% monthly. Under the influence of the collapse banking system In Russia in August - September 1998, loan fees again increased significantly.

In global banking practice, other criteria for classifying loans are used. In particular, loans can be divided into loans issued in national and foreign currency, legal entities and individuals, etc.

Questions for self-control

1. By what criteria can loan forms be distinguished?

2. What forms of credit are distinguished depending on the cost?

3. What forms of credit are distinguished depending on the lender and the borrower?

4. What are the forms of credit depending on the target needs of the borrower?

5. What is a type of loan and what six criteria can be used to classify it?