Forms of credit are different types of loans,classification of which is carried out on several basic grounds. One of the evaluation criteria is the loan cost, under which loans can be divided into three types: cash, commodity, mixed. Since the first creditors in history were subjects with significant surpluses of consumer goods, loans were initially issued in the form of specific products in kind. With a commodity loan, the debtor gradually repaid the cost of borrowed goods with money, and only after full repayment they became his property.
In developing countries, mixed forms of creditare often used even now, with a loan usually issued in cash, and is paid through the provision of goods for this amount, taking into account the interest accrued for the use of borrowed funds. However, in developed economies, similar types of loans have long ago become a thing of the past, and they have been replaced by credit and money relations. Considering the basic forms of the loan, it is possible to single out classical loans that do not bear the character of barter and commodity relations. With such loans, the borrower is provided with only free cash, for which he purchases the right products, real estate, fixed assets, transportation, equipment.
Commercial loan
Modern forms of credit and their characteristics inmany are associated with the purpose of obtaining a loan, as well as with the entity that provides the loan. If such transactions involve not banks and financial structures, but commercial organizations, bills of exchange are most often used for processing the transaction. Such a loan is usually called trade or commercial, and the main purpose of this type of loan is the desire of the parties to the transaction to speed up the process of selling products and quickly make a profit. At present, in developed countries, instead of a bill of exchange, a standard contract between a consumer and a supplier is often used, where the procedure for payment for goods sold is clearly regulated.
State loan
Forms of credit such as government loans,provide for the participation of representatives of the government in the transaction, and instead of personal savings of citizens or legal entities, funds are provided from the budget. As a rule, money is transferred through the Central Bank, or through commercial financial institutions, if the country's leadership attracts funds from other institutions for funding.
International loan
If the borrower and the lender are residentscredit relations take the form of international loans. In situations where the parties to the transaction are the IMF and representatives of the authorities of the country borrowing funds, the loan is issued only in cash, and in one of the generally accepted world currencies. When making transactions between residents of different countries whose purpose is to conduct foreign trade, the loan is often provided in the form of a commodity, and is a type of commercial loan for the importer.
Civil loan
Now civilian loan forms are usedmost often, they are usurious and are subdivided into production and consumer loans. In the first kind of loan, the subjects of the transaction are banks and legal entities, and the money received by the debtor is spent on replenishing fixed assets and working capital. Consumer loans were developed for citizens who want to purchase a specific product or solve their temporary financial difficulties. As a rule, such loans can be issued in cash or the bank independently transfers funds to a trade organization in which the borrower purchases consumer goods.
