Business Terms and Jargon Explained

What is Security for Loans

This is a loan were the loaner asked for a security for the loan in the form of named assets. The assets act as a guarantee that the loan will be paid and in the event that the loan is not paid back then they can sue for the asset to be sold and the proceeds will pay the outstanding loan amount.

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Term created / updated 2009-08-04 12:49:30

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