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secured loan

(Dictionary)

Author:
Harold Averkamp, CPA, MBA

Definition

A loan from a bank or other lender in which the borrower has pledged an asset as collateral in
case the loan cannot be repaid in full.

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About the Author

Harold Averkamp

For the past 52 years, Harold Averkamp (CPA, MBA) has
worked as an accounting supervisor, manager, consultant, university instructor, and innovator in teaching accounting online. He is the sole author of all the materials on AccountingCoach.com.

Learn More About Harold

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