Accounting Dictionary
Secured Loan
A secured loan is a debt that has collateral.
Many people borrow money to buy a car. The loan is secured with the car. The car is collateral. If they don’t make their car payments the bank could seize the car and sell it to get their money back.
Sign Up to Learn More!
Join our mailing list today to get notified of new discount offers, course updates, Roger CPA Review news, and more!