Question

Do informal sources of credit require a collateral?​

Answer 1

Explanation:

It can be said as informal sources of credit. The credit from the informal source will not have any code of conduct. It does not require the possession of any collateral for taking loans. But they will charge a high exorbitant rate of interest.

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Answer 2

Answer:

became it is work lIke a security that the borrower give to the lender which act as a gurantee that borrower will repay back loan