What are the terms and conditions of the loan (e.g. interest rate, repayment schedule, collateral)?

The terms and conditions of a loan can vary depending on the lender and the type of loan. However, some common terms and conditions include:

1. Interest rate: This is the amount of money a lender charges for the use of their money, usually expressed as a percentage of the loan amount. The interest rate can be fixed or variable, and may depend on the borrower's creditworthiness and other factors.

2. Repayment schedule: This outlines the amount of the loan payments, frequency of payments, and length of the loan term. The repayment schedule can be customized to fit the borrower's needs and financial situation.

3. Collateral: This is property or other assets that a borrower pledges to secure the loan, and which the lender can seize if the borrower defaults on the loan. The type and value of collateral required will depend on the loan amount and the borrower's creditworthiness.

4. Fees: Some loans may come with additional fees, such as application fees, origination fees, or prepayment penalties. These fees can add to the total cost of the loan, so it's important to understand them upfront.

5. Credit requirements: Lenders will typically require borrowers to meet certain credit requirements, such as a minimum credit score or a clean credit history, in order to qualify for a loan. This helps ensure that the borrower is able to repay the loan on time and in full.