A borrower takes a borrow from a lender (borrower and lender can be one or more individuals, organizations, or other entities) it’s called a loan. The borrower is liable to pay the interest until the principal amount will repay. The debt evidence document will normally specify the principal amount of money, the interest rate, and the repayment date. Between the lender and the borrower, a loan entails the reallocation of the asset for a period of time. Payment at one rate per installment is the most common method of repaying a loan. Predatory lending is one form of debt abuse, this type of lender could be considered a loan shark. If you need a loan, you need to details about it, what is the easiest and what the risks are. There are several types of loans such as emergency loans, payday loans, bad-credit or no-credit-check loans, local banks and credit unions, local charities and nonprofits, payment plans, paycheck advances, etc.