Home Depot to Launch In-Store Loan Program

Home Depot will offer loans to its customers nationwide, granting the money in stores so customers can spend it almost instantly on home improvement products. The Atlanta-based company called the program the first of its kind in the retail industry. Customers will be allowed to use the loan money only at Home Depot stores and will be able to charge purchases to their loan accounts for up to six months. The company will give its customers credit lines of $3,000 to $30,000 and repayment periods of up to 10 years.