A loan agreement is a contract entered into between which regulates the terms of a loan. Loan agreements usually relate to loans of cash, but market specific contracts are also used to regulate securities lending. Loan agreements are usually in written form, but there is no legal reason why a loan agreement cannot be a purely oral contract (although in some countries this may be limited by the Statute of frauds or equivalent legislation).
Loan agreements are usually characterised either of two different ways: by the type of lender, or by the type of facility. Categorising loan agreements by lender usually simply sub-divides loans into:
Categorising loan agreements by type of facility, usually results in two primary categories:
Term loans, which are repaid in set instalments over the term, or revolving loans (or overdrafts) where up to a maximum amount can be withdrawn at any time, and interest is paid from month to month on the drawn amount.
Within these two categories though, there are various subdivisions such as interest-only loans, and balloon payment loans. It is also possible to subcategorise on whether the loan is a secured loan or an unsecured loan, and whether the rate of interest is fixed or floating.
Francisco Vásquez de Coronado, a Spanish explorer searching for gold, traveled the region that became New Mexico in 1540–1542. In 1598 the first Spanish settlement was established on the Rio Grande River by Juan de Onate; in 1610 Santa Fe was founded and made the capital of New Mexico.
The U.S. acquired most of New Mexico in 1848, as a result of the Mexican War, and the remainder in the 1853 Gadsden Purchase. Union troops captured the territory from the Confederates during the Civil War. With the surrender of Geronimo in 1886, the Apache Wars and most of the Indian conflicts in the area were ended.
Since 1945, New Mexico has been a leader in energy research and development with extensive experiments conducted at Los Alamos Scientific Laboratory and Sandia Laboratories in the nuclear, solar, and geothermal areas.
Minerals are the state’s richest natural resource, and New Mexico is one of the U.S. leaders in output of uranium and potassium salts. Petroleum, natural gas, copper, gold, silver, zinc, lead, and molybdenum also contribute heavily to the state’s income.
The principal manufacturing industries include food products, chemicals, transportation equipment, lumber, electrical machinery, and stone-clay-glass products. About two-thirds of New Mexico’s farm income comes from livestock products, especially dairy and cattle. Pecans, hay, and onions are the most important field crops. Corn, peanuts, beans, onions, chilies, and lettuce are also grown.
Tourist attractions include the Carlsbad Caverns National Park, Inscription Rock at El Morro National Monument, the ruins at Fort Union, Billy the Kid mementos at Lincoln, the White Sands and Gila Cliff Dwellings National Monuments, Bandelier National Monument, and the Chaco Culture National Historical Park.