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Commercial Loan Officer Interview Question:
Explain me what is ‘Bill Purchase'?
Submitted by: MuhammadIn ‘Bill Purchase' the loan will be created for the full value of the draft and the interest will be recovered when the actual payment comes. For example, a ‘Sight draft' is presented for which the loan is created for 100% of the draft value. The money is received after 7 days, and then the interest will be recovered for 7 days along with the principal amount.
Submitted by: Muhammad
Submitted by: Muhammad
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