What is collateral
Answers
Answered by
0
Answer:The term collateral refers to an asset that a lender accepts as security for a loan. Collateral may take the form of real estate or other kinds of assets, depending on the purpose of the loan. The collateral acts as a form of protection for the lender.
Explanation:
Answered by
0
Answer:
In lending agreements, collateral is a borrower's pledge of specific property to a lender, to secure repayment of a loan.
Similar questions