Business, Legal & Accounting Glossary
Loan in respect of which the lender has taken no special claim against any assets.
An unsecured loan is one that is not backed by a pledged asset such as the real estate that is security for a mortgage or the auto title that secures an auto loan.
An unsecured loan, also called a personal loan, is backed by your credit rating and your promise to pay.
Loan
Payday loan
Personal loan
To help you cite our definitions in your bibliography, here is the proper citation layout for the three major formatting styles, with all of the relevant information filled in.
Definitions for Unsecured Loan are sourced/syndicated and enhanced from:
This glossary post was last updated: 28th November, 2021 | 0 Views.