Economy, asked by gopalkgp1098, 1 year ago

What is collateral? why is it necessary?

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Answers

Answered by aggarwshiva200p5xtqy

collateral is an asset that a borrower owns and is given as a guarantee of future repayment to lender
it is important as through it the lender is assured to receive his money either from borrower or selling the collateral

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Answered by saloniRai

traditionally collateral has been considered an important part of qualifying for a small business loan.Intact ,it's one of the five Cs used by the many traditional lenders to help them evaluate a potential power.....
Hope it will be helpful

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