Collateral is an asset that a borrower offers to a lender as security for a loan. If the borrower then defaults on the loan repayments, the lender can seize the secured asset in order to cover the balance of the loan.
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Collateral is an asset that a borrower offers to a lender as security for a loan. If the borrower then defaults on the loan repayments, the lender can seize the secured asset in order to cover the balance of the loan.
See also:
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