A loan disbursement statement is a document provided by a lender that outlines the details of a loan that has been disbursed to the borrower. It typically includes the following information:
- Loan amount: The total amount of money that has been disbursed to the borrower.
- Disbursement date: The date when the funds were transferred to the borrower’s account.
- Interest rate: The interest rate applicable to the loan.
- Loan terms: The repayment schedule, including the duration of the loan and the frequency of payments.
- Fees and charges: Any fees or charges that have been deducted from the loan amount before disbursement.
- Account information: Details of the account to which the funds were disbursed.
This statement helps the borrower track how much of the loan has been received, any associated costs, and the terms under which the loan must be repaid.