Why do lenders ask for collateral while lending ? Give any 3 resons
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HEY DEAR ...
Lenders ask collateral from the borrower and uses it as a gurentee or promise from the borrower to pay the loan in the future and if the borrower fails to repay the loan then they had legal rights to sell the asset and obtain money .
HOPE , IT HELPS ...
Lenders ask collateral from the borrower and uses it as a gurentee or promise from the borrower to pay the loan in the future and if the borrower fails to repay the loan then they had legal rights to sell the asset and obtain money .
HOPE , IT HELPS ...
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