Question

what is a Collateral ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ?

Answer 1

something pledged as security for repayment of a loan, to be forfeited in the event of a default.

Answer 2

HI

⭐️ Collateral ▶️ an asset that that the borrower owns and uses this as a guarantee to a lender until the loan is repaid.

e.g. land, building, vehicle, livestock, deposits with banks...

Hope it proved to be beneficial...