Request loan drawdown
If you're using a loan to finance a large purchase, you can request a loan drawdown to spread the cost. If the interest rate is variable, you may want to draw down the loan before rates increase. If you're concerned about your ability to repay the loan, you may want to draw down the loan gradually to reduce the amount you owe.
Relevant Contract Types
💴 Loan drawdown request
A loan drawdown request is a request from a borrower to a lender for the release of funds from a loan facility. The request is usually made when the borrower is ready to begin using the loan facility. The loan drawdown request will typically cover the amount of the loan, the interest rate, the repayment schedule, and any other terms and conditions that have been agreed upon by the parties.
Relevant Contract Types
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