What is PURPOSE LOAN?

A loan whose collateral is securites that has to follow margin rules. The returns are used to purchase other securities. AKA margin loan. Refer to nonpurpose loan.

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Related Legal Terms

NON-PURPOSE LOAN, MARGIN LOAN, MORNING LOAN, SECURITIES LOAN, DUAL PURPOSE FUND, BROKER LOAN, UNDERWATER LOAN, LOAN VALUE, FULL RECOURSE LOAN, SPECIAL-PURPOSE FINANCIAL STATEMENT


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