what is meant by term collateral
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Something pledge as security for repayment of a loan, to be fortified in the even of default
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✨✔️✔️ Question : What is meant by term collateral?
✔️✔️Answer :
Collateral is an asset that the borrower owns and uses this as a guarantee to a lender until the loan is repaid.
eg: Land, Building etc....
✨✔️✔️HOPE IT HELPS YOU....
✌❤✌
✔️✔️Answer :
Collateral is an asset that the borrower owns and uses this as a guarantee to a lender until the loan is repaid.
eg: Land, Building etc....
✨✔️✔️HOPE IT HELPS YOU....
✌❤✌
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