secured creditor definition
A lender such as a bank who has placed a lien on a borrower's assets. As a result, the lender has collateral until the loan amount is repaid.
A lender such as a bank who has placed a lien on a borrower's assets. As a result, the lender has collateral until the loan amount is repaid.
Harold Averkamp (CPA, MBA) has worked as a university accounting instructor, accountant, and consultant for more than 25 years. He is the sole author of all the materials on AccountingCoach.com. Read more about the author.