describe category of bank loan

User Generated

wuba e

Business Finance

Description

describe category of bank loan

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Explanation & Answer

A loan that is issued and supported only by the borrower's creditworthiness, rather than by a type of collateral. An unsecured loan is one that is obtained without the use of property as collateral for the loan. Borrowers generally must have high credit ratings to be approved for an unsecured loan. 


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