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 a year 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.