Loans are provided by a lender to a borrower in return for a promise of repayment in the future, typically with interest added to provide a profit to the lender. Loans usually consist of money, but other assets can be loaned. Secured loans are those that give the lender a vested interest in collateral deposited by the borrower - usually that collateral is the item purchased with the loaned money, such as a home or vehicle. Unsecured loans have no collateral so that the lender must secure a court-ordered judgment to secure the borrower's assets as repayment.
Read More Articles