public static Character getLoanType() {   
        Scanner sc = new Scanner(System.in);
        Character loanType;  
        
        // asks user to enter loan type
        do {
            System.out.print(" Is the loan for personal or business purposes? (P/B): ");
            loanType = sc.next().toUpperCase().charAt(0);
            
            if (!((loanType.equals('P')) || (loanType.equals('B'))))
                System.out.println("  >> ERROR: Invalid input.");
        } while (!((loanType.equals('P')) || (loanType.equals('B'))));

        return loanType;
    }