why do lenders ask for collateral while lending
Answers
Answered by
17
Answer:
Lenders ask for collateral as security against loans. If the borrower fails to repay the loan, the lender has the right to sell the asset-or collateral to recover the payment. ... It is for this reason that lenders ask for collateral while lending.
Answered by
2
Lenders ask for collateral as security against loans. If the borrower fails to repay the loan, the lender has the right to sell the asset-or collateral to recover the payment.
hope it helps you:-)
please mark as brainliest
Similar questions