Unsecured Loan Definition
A loan that is not backed by collateral.
Any loan that is not backed by collateral.
A loan that is not backed by any collateral.
A loan that is not secured by collateral. Most credit cards are unsecured loans. Since there is no collateral offered, the rate is typically higher to compensate the lender for the greater risk being assumed.
A loan in air, with no asset pledged as collateral or security for it.
Loan which is not backed by collateral.
A loan that does not offer collateral such as a home or an automobile, as security for repayment of the loan. Typically unsecured loans will be assigned a higher interest rate than a secured loan because the lender does not have collateral to take back if the borrower does not make timely payments.
A loan granted upon the good credit of the borrower. No collateral involved.
A loan that is not backed by any collateral. V VA Loan A Veterans Administration program that allows veterans to purchase a house without a down payment.
A loan in which there is no collateral, this type of loan is based upon personal credit.
A mortgage not backed by collateral.
Debt that is not backed by a pledge of specific assets.
A loan offered based on a business's ability to repay the loan and not secured by collateral.
most personal loans are unsecured loans. This means that the loan provider does not have a particular asset, such as your home, to reclaim if you should stop payments on the loan before it was paid back. However, the lender may still have a rightful claim on any of your possessions up to the loan amount should you not be able to repay the loan.
Bank credit extended without collateral.
A loan based on a consumer's promise to pay, without savings or other collateral as a guarantee. Sometimes called a signature loan.
A loan made on the signature and credit of the borrower, not secured by collateral.
The opposite of a secured loan.
A loan made only on the signature and credit of the borrower and, thus, not secured by collateral. By definition, a loan in which property is used to secure the debt is a secured loan.
A loan made with no collateral posted to ensure repayment. Variable cost. A cost that varies directly with sales, such as raw materials, labor and sales commissions.
Loan in respect of which the lender has taken no special claim against any assets.