What is a credit?

A loan is an operation in which a creditor, lends an amount of money for a specified time to a debtor, which will return it in the future with interest.

These credits are used to finance some type of purchase or to make a business investment, with the aim of producing a greater profit. The creditor that lends the money also makes an investment, since it lends the money with the aim that it be returned after the agreed time, with a series of interests that will be your benefits.

All the conditions of the credit agreement are negotiated and are reflected before receiving the money. In this contract, the amount of the credit, the interest, the time it will be returned and the payment conditions are made clear.

The creditor has the possibility to take legal action against the debtor, if he does not comply with the conditions of the contract.

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