Advance

To give someone a drawUsually applies to construction loans when disbursement of a portion of the mortgage is made in advance, or paymentPeriodic (usually monthly) installments paid to a lender to be applied toward repaying your loan. Payments by making them a loanTransfers for which the recipient incurs a legal debt and repayment is required over time, with or without.

Advance

Transfer of funds from a lenderThe entity that provides loan funds to the borrower. Depending on the type of loan, the lender may be to a borrowerPerson responsible for repaying a loan who has signed and agreed to the terms in the promissory note. in advance on a loanTransfers for which the recipient incurs a legal debt and repayment is required over time, with or without.