Question

what are the main source of
credit? why do lenders ask
for collateral while lending ?​

Answer 1

Answer:

Lenders ask for collateral as security against loans. If the borrower fails to repay the loan, the lender has the right to sell the asset-or collateral to recover the payment. Collateral assets (such as land, vehicle, etc.)

Explanation:

thanks

Answer 2

Explanation:

Lenders ask for collateral as security against loans. If the borrower fails to repay the loan, the lender has the right to sell the asset-or collateral to recover the payment. Collateral assets (such as land, vehicle, etc.)