Case

CHAPTER 1

THE PROBLEM AND ITS BACKGROUND

Introduction

There are no secrets to success. It is the result of preparation, hard work, and learning from failure.

Colin Powell

In finance, a loan is a debt provided by one entity organization or individual to another entity at an interest rate, and evidenced by a note which specifies, among other things, the principal amount, interest rate, and date of repayment. A loan demands the intended of the subject asset for a period of time, between the lender and the borrower.

In a loan, the borrower initially receives or borrows an amount of money, called the principal, from the lender, and is obligated to pay back with an interest of ten percent (10%) per month of money to the lender at a later time. Typically, the money is paid back in regular installments, or partial repayments; in two months only. If already paid the said amount of money credited with an interest the costumers subjected to renew their account.

The loan is generally provided at a cost, referred to as interest on the debt, which provides an incentive for the lender to appointed in the loan. In a legal loan, each of these obligations and restrictions is enforced by contract, which can also place the borrower under additional limitation known as loan agreement. Although this article focuses on monetary loans, in practice any material object might be lent. Finance can provide with cash to fund business improvements, pay for college and others. After you are approved for the loan, you'll receive the money and can use it for whatever you wish.

In the year 2014, The Filipino business women name Virgie Ople Devney

was established the latest company name DLC (Devney Lending Company.) at Unit 2 Apo street Extension Burgos, Rodriguez, Rizal. Her objective is to help people needs principal purposes. DLC started the concept and practice of servicing small loans. The Local employee workers, mini store and others...