Collateral refers to property or other assets a borrower uses to secure a loan. If payments are not made, the lender can seize the collateral to cover its loss.
Collateral
What is Collateral?

Written by Jolie Pham
Updated over 10 months agoWhat is Collateral?
Collateral refers to property or other assets a borrower uses to secure a loan. If payments are not made, the lender can seize the collateral to cover its loss.