In a ________ loan,more than one lender enters into concurrent direct obligations with the borrower to make the loan.

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In a syndicated loan, multiple lenders come together to make a single loan to a borrower. This allows for larger loan amounts than a single lender would be able to provide, and also spreads the risk among multiple lenders. Each lender enters into a direct obligation with the borrower for their portion of the loan. A participation loan is similar, but each lender does not have a direct obligation with the borrower, instead purchasing a portion of the loan from a lead lender. A term sheet is an outline of the terms and conditions of a potential loan, but not a type of loan itself.

In a ________ Loan,more Than One Lender Enters into Concurrent