Loan Collateral: Here’s a Detailed Insight into Collateral Meaning and Financing
Anyone familiar with the word ‘loan’ would know what collateral means. In simple words, collateral is an asset you pledge with the lender for lending funds. In case, the borrower fails to repay the loan on time, the lender can seize the asset and sell it to recoup the loss. Collateral loans are quite popular among individuals seeking funds for both—personal and professional needs.
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