commercial and industrial (C&I) loan Definition | Business Dictionaries from AllBusiness.com
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Business Definition for: commercial and industrial (C&I) loan
commercial and industrial (C&I) loan

loan to a corporation, commercial enterprise, or joint venture, as opposed to a loan to a consumer. C&I loans can be a source of working capital, or used to finance the purchase of manufacturing plants and equipment. These loans are generally short-term, are secured by collateral pledged by the borrower or can be fully unsecured, and usually are made at flexible rates. Generally, the rate is pegged to the bank prime rate : or money market rate, such as the London Interbank Offered Rate (LIBOR) . Many lenders also require borrowers to file periodic financial statements, usually annually, and meet other conditions, such as maintaining proper insurance on the loan collateral.

See also continuation statement , covenant , demand loan , corporate resolution , term loan , time loan , security agreement , financing statement , security interest
Copyright c 2006, 2000, 1997, 1993, 1990 by Barron's Educational Series, Inc. Reprinted by arrangement with Publisher.

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