Loan services refer to financial offerings that allow individuals or businesses to borrow money for various purposes, such as buying a home, financing education, or starting a business. These services typically involve a lender providing funds that the borrower agrees to repay over time, usually with interest. Common types of loans include personal loans, mortgages, and auto loans. Lenders, such as banks and credit unions, assess a borrower's creditworthiness before approving a loan. This assessment helps determine the loan amount, interest rate, and repayment terms. Borrowers should carefully review these terms to ensure they can meet their financial obligations while managing their budgets effectively.