What does "Loan Maturity" refer to in nCino?

"Loan Maturity" specifically refers to the date on which a loan must be repaid in full or the date when the final payment is due. This concept is crucial in commercial banking as it defines the duration of the loan agreement and establishes the timeline for repayment obligations. Knowing the maturity date is essential for both the lender and borrower to manage financial planning and ensure that the terms of the loan are adhered to.

The other options describe different aspects of a loan but do not pertain to the specific meaning of loan maturity. For instance, the time frame for processing a loan relates to the operational aspects rather than the terms of repayment. The interest rate is a financial detail that affects the cost of borrowing but does not indicate when the loan must be settled. Lastly, the initial amount borrowed is a monetary figure associated with the loan agreement but does not address the timeline for repayment. Thus, focusing on the final payment date emphasizes the essence of loan maturity in the context of lending agreements.