IS THERE A LIMIT TO THE NUMBER OF LOANS I CAN GET?

The term "loan" refers to a sort of credit in which a certain quantity of money is given to another party in return for the value or main amount to be repaid in the future. In many circumstances, the lender increases the principal amount by adding interest, which the borrower must pay back in addition to the main sum. Loans may be made for a predetermined, one-time sum or as an open-ended line of credit with a cap up to a certain amount. In addition to secured and unsecured loans, there are also commercial and personal lending options.