Below please find a definition of “Secured loan”
Defined Term – Secured loan: In the event, when a borrower promises to use an asset (for example, a car or any property) as collateral for a loan, that particular type of loan is termed as a secured loan. This loan in turn becomes a secured debt that is owed to the creditor who provides the loan. Because the debt is secured against the collateral, if the borrower defaults by any chance, the creditor has the right to take ownership of the assets of the borrower.
Fast Financial Training: If you want to take your finance or business career to the next level you should explore our financial analysis certification program, or our training programs on financial modeling, investment banking, hedge funds, or private equity. All of these programs are offered on http://BusinessTraining.com
Return to Glossary: Read More Financial Analysis Glossary Terms
Tags: Define secured loan, What is secured loan, Meaning of secured loan, Secured loan definition, Secured loan meaning, Secured loan examples, secured loan advantages
Comments on this entry are closed.