Important Notice: Our web hosting provider recently started charging us for additional visits, which was unexpected. In response, we're seeking donations. Depending on the situation, we may explore different monetization options for our Community and Expert Contributors. It's crucial to provide more returns for their expertise and offer more Expert Validated Answers or AI Validated Answers. Learn more about our hosting issue here.

What’s a secured loan and how is it different from an unsecured loan?

April 26, 2017different loan secured loan unsecured

0

Posted

What’s a secured loan and how is it different from an unsecured loan?

1 Answer

0

Posted

A secured loan is made based on something of value that the lender holds as “collateral.” This means that the lender has rights to the collateral if you don’t pay back the loan according to its terms. An unsecured loan is made without any collateral.