Browse over XX market data Figures spread through XX Pages and an in-depth TOC on the "United States Loan Market."
According to a recent report by TechSci Research titled "United States Loan Market – Regional Analysis, Competition Forecast & Opportunities, 2018-2028F," the loan market in the United States is poised for robust growth in the forecast period. This growth is attributed to compelling marketing strategies, low-interest rates, the proliferation of online platforms, and increased support from chatbots.
Loans, a form of debt, involve the lender providing a specified amount of money to the borrower, often on behalf of businesses, financial institutions, or government entities. The borrower agrees to predetermined terms, encompassing economic costs, interest rates, repayment schedules, and other conditions. Loans serve diverse purposes, such as large purchases, investments, renovations, debt consolidation, and business ventures. They play a crucial role in fostering economic growth by injecting more money into circulation.
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Various types of loans exist, each with different pricing and contractual terms. Secured loans, backed by assets like property or gold, offer lower interest rates and more extended repayment terms. Examples include mortgage loans, auto loans, and gold loans. In contrast, unsecured loans, such as personal and education loans, lack collateral, resulting in higher interest rates due to increased risk for the lender.
A secured loan generally comes with more favorable terms than an unsecured one, making it easier to obtain. The lower interest rates, longer payback periods, and larger borrowing amounts make secured loans more advantageous for borrowers.
Report Scope:
In this report, United States Loan Market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
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United States Loan Market, By Type:
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Secured Loan
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Unsecured Loan
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United States Loan Market, By Provider Type:
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Bank
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Non-Banking Financial Companies
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Others
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United States Loan Market, By Interest Rate:
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Fixed
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Floating
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United States Loan Market, By Tenure Period:
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Less than 5 Years
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5-10 Years
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11-20 Years
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More than 20 Years
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United States Loan Market, By Region:
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South
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Midwest
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Northeast
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West
Lenders prefer secured loans as they entail less risk. The collateral used ensures that even if the borrower defaults, the lender can recover the loan amount through the asset. The report further segments the United States Loan Market based on type, provider type, interest rate, tenure period, and region.
Key market players in the United States Loan Market include:
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Bank of America Corporation
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JPMorgan Chase & Co.
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Citigroup, Inc.
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Wells Fargo & Co.
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U.S. Bancorp
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PNC Financial Services Group, Inc.
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American Express Company
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Ally Financial Inc.
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Truist Financial Corporation
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Goldman Sachs & Co. LLC.
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The report highlights a significant trend in the industry – the increasing support from online portals and the integration of chatbots with AI features. These advancements are expected to positively impact market growth alongside low-interest rates, a rising number of potential loan buyers, and compelling marketing strategies. Mr. Karan Chechi, Research Director at TechSci Research, emphasized the market's growth due to the wide range of loans meeting customer needs and the growing popularity of online channels.
The comprehensive report, titled "United States Loan Market By Type (Secured Loan and Unsecured Loan), By Provider Type (Bank, Non-Banking Financial Companies and Others), By Interest Rate (Fixed and Floating), By Tenure Period, By Region, Competition, Forecast & Opportunities, 2028F," assesses the future growth potential of loan products, providing valuable insights for decision-makers in the market. It covers market structure, size, share, and growth statistics while identifying emerging trends, drivers, challenges, and opportunities in the US Loan Market. Customers can access a free sample report and request a 10% customization on the provided information.
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About Techsci Research
TechSci Research is a research-based management consulting firm providing market research and advisory solutions to its customers worldwide, spanning a range of industries. TechSci Research's core values are value, integrity, and insight. Led by a team of dynamic industry experts, TechSci Research provides its customers with high-value market research and advisory services that help them identify new market opportunities, growth engines, and innovative ways to capture the market share. As a result, TechSci's client leads rather than follow market trends.
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