"Loan collateral" refers to an asset or property that a borrower pledges to a lender as a guarantee to secure a loan. If the borrower fails to repay the loan, the lender can seize the collateral and sell it to recover the money lent.
Full definition
Synonyms for individual words can be found below.
«loan»
«collateral»
Sentences with «loan collateral»
- Many lenders will even accept life insurance policies as loan collateral, and a policy that does not require a medical exam presents a more streamlined way of securing a loan. (aig.com)
- The banks will often require you to purchase a business loan collateral life insurance policy. (lifewealthwin.com)
- If you need coverage for loan collateral or just to protect your family's financial future, you need to look at this product. (ljmlifeinsurance.com)
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