Discover what a secured loan is, how it works, and its importance in finance. Learn about collateral, advantages, and examples.
A secured loan is a type of borrowing where the lender has a legal claim on certain assets of the borrower as collateral in the event of default. This type of loan often comes with lower interest rates compared to unsecured loans, making it an important financial instrument.
A comprehensive analysis of vendor notes, covering their definition, terms, benefits, drawbacks, and practical usage in business transactions.
