Loan Loss Provision
An expense set aside as an allowance for bad loans (customer defaults, or terms of a loan have to be renegotiated, etc).

Investopedia Says:
This would be a bank's equivalent of a manufacturing company's allowance for returns on goods sold.

Also know as a valuation allowance or valuation reserve.

Related Terms:
Creditor
Loan
Loan Sharking
Loan Syndication

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