Loan terms
Each loan has a set of characteristics including loan amount, term, interest rate, fees, recourse, repayment schedule, and amortization. Loans can also take various forms. When looking for and dealing with debt, you will come across standard jargon and complicated documents. It is important to understand the terminology (or look it up) as you ask questions, negotiate and enter into contracts.
It is important to understand the terminology (or look it up) as you ask questions, negotiate and enter into contracts. Luckily, due to the widespread existence of all types of debt, there are resources including these websites with glossaries and the explanations following:
https://hotelinvestortoolbox.com/hit-glossary/