Social Sciences, asked by umarchoudhary139, 3 months ago

what is Collateral explain

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Answered by Anonymous

❥The term collateral refers to an asset that a lender accepts as security for a loan. ... The collateral acts as a form of protection for the lender. That is, if the borrower defaults on their loan payments, the lender can seize the collateral and sell it to recoup some or all of its losses.

Answered by Alisha418

Answer:

The term collateral refers to an asset that a lender accepts as security for a loan. ... The collateral acts as a form of protection for the lender. That is, if the borrower defaults on their loan payments, the lender can seize the collateral and sell it to recoup some or all of its losses

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