Definition of secured loan

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TeachMeFinance.com - explain secured loan



secured loan -- a loan for which the borrower pledges collateral that will be forfeited to the lender if the borrower fails to repay the loan.



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Mark McCracken

Author: Mark McCracken is a corporate trainer and author living in Higashi Osaka, Japan. He is the author of thousands of online articles as well as the Business English textbook, "25 Business Skills in English".


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