purpose statement

purpose statement definition - business

purpose statement

A document that states the use to which proceeds of a loan that is backed by securities are to be put. The borrower agrees not to use the funds to purchase securities in violation of Federal Reserve credit regulations.

The American Heritage® Dictionary of Business Terms Copyright © 2009 by Houghton Mifflin Harcourt Publishing Company. Published by Houghton Mifflin Harcourt Publishing Company. All rights reserved.

Comments
Improve this definition.
Do you have more to add? Share your linguistic knowledge or observation.
/Register to save your comments.