secured loan

Noun

Meaning

secured loan (plural secured loans)

(finance, business) A loan in which the borrower pledges some asset as collateral for the loan, which then becomes a secured debt owed to the creditor who issues the loan.

Source: en.wiktionary.org

Synonyms

loan mortgage pawnbroking

Examples

The minimum amount to finance an unsecured loan, secured loan, or unsecured line of credit with Wells Fargo is $3,000; for a secured line of credit, the minimum is $5,000. Source: Internet

When that happens, the assets you put up for collateral when getting a secured loan can be repossessed immediately. Source: Internet

This is known as a secured loan. Source: Internet

Close letter words and terms

secured by a key secured creditor secured debt secured transaction securely securement