Collateral
Collateral is something valuable, like property or equipment, that you pledge as security when borrowing money. If you can’t repay the loan, the lender can take possession of the collateral and sell it to recover their losses.
Collateral is something valuable, like property or equipment, that you pledge as security when borrowing money. If you can’t repay the loan, the lender can take possession of the collateral and sell it to recover their losses.