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mutualista [see context]

English translation: mutual credit

GLOSSARY ENTRY (DERIVED FROM QUESTION BELOW)
Spanish term or phrase:mutualista [see context]
English translation:mutual credit
Entered by: Robert Forstag

14:28 Dec 18, 2016
Spanish to English translations [PRO]
Bus/Financial - Finance (general) / Mexico - Banamex - Type of Loan
Spanish term or phrase: mutualista [see context]
The term appears one of several possible options in answer to the following question on a form: What kind of loans have you previously applied for at the bank?

The other options offered are: automovil, hipotecario, muebles, cibermatico, extraordinario, otro
Robert Forstag
United States
Local time: 10:55
loan for consumption
Explanation:
There was a similar question recently.

Express or implied contract under which a lender hands over (see delivery) certain consumable goods (such as food, fuel, material) to a borrower. The borrower is obligated to return the goods of same or equivalent quantity, quality, and type within a specified or reasonable period. Type of lend lease.

Read more: http://www.businessdictionary.com/definition/loan-for-consum...

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Note added at 31 mins (2016-12-18 14:59:07 GMT)
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http://www.proz.com/kudoz/spanish_to_english/finance_general...

https://en.wikipedia.org/wiki/Mutual_credit

https://es.wikipedia.org/wiki/Contrato_de_mutuo

Also know as Mutuum and mutual credit

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Note added at 34 mins (2016-12-18 15:02:32 GMT)
--------------------------------------------------

Part of the Wikipedia text:

Contrato de mutuo
Pese a que puede tratarse de cualquier especie consumible, por antonomasia el mutuo es un contrato de préstamo de dinero, el cual suele ser remunerado mediante el pago de intereses en función del tiempo. Si el mutuo se encuentra garantizado mediante un derecho real de hipoteca se denomina mutuo hipotecario. Una especie de préstamo son las líneas de crédito asociadas a las cuentas corrientes. A través de ellas, el banco deja a disposición del cliente una cantidad de dinero y no cobra intereses mientras no lo use. Solo lo hace cuando se utiliza ese dinero. Aunque no siempre se piden al banco, sino que pueden prestarse por las financieras (como sucede con los préstamos rápidos, más fáciles de obtener, limitados a una cantidad y con un interés unas tres veces superior a la media del mercado).

Mutual credit
Mutual credit is a type of alternative currency in which the currency used in a transaction can be created at the time of the transaction. Local exchange trading systems (LETS) are mutual credit systems. Typically this involves keeping track of each individual's credit or debit balance. Although the effect is like a loan, no interest is charged, and since mutual credit allows for trading and cancelling balances with others, debts can be paid off indirectly. The "IOU" is a common example of this.

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Note added at 2 days4 hrs (2016-12-20 18:43:33 GMT) Post-grading
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Thank you, too!
Selected response from:

Helena Chavarria
Spain
Local time: 16:55
Grading comment
Thanks for your efforts here, Helena, and thanks also to everyone else who responded and commented. "Mutual credit" seems like a reasonable translation in the present context. I hasten to add that this query was not of particular import in the document I translated (as it was a choice on a form of a category of loans received in the past that was **not** selected). I nevertheless hope it will benefit future users of Kudoz.

Happy Holidays to all!
3 KudoZ points were awarded for this answer



Summary of answers provided
4loan for consumption
Helena Chavarria
4mutual commitment loan
David Hollywood
4consumer loan
AllegroTrans
3Personal loan or personal line of credit
Mary Gardner Hume


Discussion entries: 6





  

Answers


2 hrs   confidence: Answerer confidence 3/5Answerer confidence 3/5
Personal loan or personal line of credit


Explanation:
I have worked in the banking industry and among the types of loans the banks I have worked with, the two above, along with boat loan, or refinancing loan pretty much complete the list of potential loans most banking institutions offer. While the other types of loans are for a specific purchase, a personal loan (set amount to be granted to the borrow at the time the loan is approved, of the purchase of consumable goods such as travel or a wedding among others, versus a personal line of credit which allows the borrower to withdraw smaller amounts against total, with interest only being charged on the amount of money withdrawn until it is paid back.

Mary Gardner Hume
Argentina
Local time: 11:55
Specializes in field
Native speaker of: Native in EnglishEnglish
PRO pts in category: 3
Login to enter a peer comment (or grade)

2 hrs   confidence: Answerer confidence 4/5Answerer confidence 4/5
mutualista
consumer loan


Explanation:
An amount of money lent to an individual (usually on a nonsecured basis) for personal, family, or household purposes. Consumer loans are monitored by government regulatory agencies for their compliance with consumer protection regulations such as the Truth in Lending Act.
What is consumer loan? definition and meaning - BusinessDictionary ...
www.businessdictionary.com/definition/consumer-loan.html

An amount of money lent to an individual (usually on a nonsecured basis) for personal, family, or household purposes. Consumer loans are monitored by government regulatory agencies for their compliance with consumer protection regulations such as the Truth in Lending Act.
What is consumer loan? definition and meaning - BusinessDictionary ...
www.businessdictionary.com/definition/consumer-loan.html

AllegroTrans
United Kingdom
Local time: 15:55
Specializes in field
Native speaker of: Native in EnglishEnglish
PRO pts in category: 186
Login to enter a peer comment (or grade)

9 hrs   confidence: Answerer confidence 4/5Answerer confidence 4/5
mutual commitment loan


Explanation:
will also establish individual mutual commitment contracts/loans with the agricultural structures etc.

I have this type of contract with my brother-in-law

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Note added at 9 hrs (2016-12-18 23:40:08 GMT)
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we both agree to abide by the terms and good for both parties

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Note added at 9 hrs (2016-12-18 23:41:58 GMT)
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fixed terms, so we both know what we're entering into

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Note added at 9 hrs (2016-12-18 23:47:27 GMT)
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El mutuo o préstamo de consumo es un contrato en virtud del cual una persona (prestamista o mutuante) entrega a otra (prestatario, mutuario o mutuatario) dinero u otra cosa consumible, para que se sirva de ella y devuelva después otro tanto del mismo género y cantidad.

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Note added at 9 hrs (2016-12-18 23:48:49 GMT)
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con intereses por supuesto

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Note added at 9 hrs (2016-12-18 23:49:37 GMT)
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así funciona el negocio

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Note added at 9 hrs (2016-12-18 23:56:00 GMT)
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a real life scenaro...

David Hollywood
Local time: 11:55
Works in field
Native speaker of: Native in EnglishEnglish
PRO pts in category: 730
Login to enter a peer comment (or grade)

27 mins   confidence: Answerer confidence 4/5Answerer confidence 4/5
loan for consumption


Explanation:
There was a similar question recently.

Express or implied contract under which a lender hands over (see delivery) certain consumable goods (such as food, fuel, material) to a borrower. The borrower is obligated to return the goods of same or equivalent quantity, quality, and type within a specified or reasonable period. Type of lend lease.

Read more: http://www.businessdictionary.com/definition/loan-for-consum...

--------------------------------------------------
Note added at 31 mins (2016-12-18 14:59:07 GMT)
--------------------------------------------------

http://www.proz.com/kudoz/spanish_to_english/finance_general...

https://en.wikipedia.org/wiki/Mutual_credit

https://es.wikipedia.org/wiki/Contrato_de_mutuo

Also know as Mutuum and mutual credit

--------------------------------------------------
Note added at 34 mins (2016-12-18 15:02:32 GMT)
--------------------------------------------------

Part of the Wikipedia text:

Contrato de mutuo
Pese a que puede tratarse de cualquier especie consumible, por antonomasia el mutuo es un contrato de préstamo de dinero, el cual suele ser remunerado mediante el pago de intereses en función del tiempo. Si el mutuo se encuentra garantizado mediante un derecho real de hipoteca se denomina mutuo hipotecario. Una especie de préstamo son las líneas de crédito asociadas a las cuentas corrientes. A través de ellas, el banco deja a disposición del cliente una cantidad de dinero y no cobra intereses mientras no lo use. Solo lo hace cuando se utiliza ese dinero. Aunque no siempre se piden al banco, sino que pueden prestarse por las financieras (como sucede con los préstamos rápidos, más fáciles de obtener, limitados a una cantidad y con un interés unas tres veces superior a la media del mercado).

Mutual credit
Mutual credit is a type of alternative currency in which the currency used in a transaction can be created at the time of the transaction. Local exchange trading systems (LETS) are mutual credit systems. Typically this involves keeping track of each individual's credit or debit balance. Although the effect is like a loan, no interest is charged, and since mutual credit allows for trading and cancelling balances with others, debts can be paid off indirectly. The "IOU" is a common example of this.

--------------------------------------------------
Note added at 2 days4 hrs (2016-12-20 18:43:33 GMT) Post-grading
--------------------------------------------------

Thank you, too!

Helena Chavarria
Spain
Local time: 16:55
Works in field
Native speaker of: Native in EnglishEnglish
PRO pts in category: 139
Grading comment
Thanks for your efforts here, Helena, and thanks also to everyone else who responded and commented. "Mutual credit" seems like a reasonable translation in the present context. I hasten to add that this query was not of particular import in the document I translated (as it was a choice on a form of a category of loans received in the past that was **not** selected). I nevertheless hope it will benefit future users of Kudoz.

Happy Holidays to all!
Notes to answerer
Asker: Hi Helena, Thank you for your answer. It just seems improbable that Banamex would be offering its customers food, fuel, and other consumable goods on credit. Your thoughts?

Login to enter a peer comment (or grade)



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