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Understanding What is a Secured Loan
from:Introduction
In the contemporary world of rising demands and needs, all classes of people at one point or other feel the need for finance. Whether it is some enhancement to be done to your home, a new home has to be built or your business simply requires some additional investment; the purposes for which loans are applied today are almost endless.
To meet such a massive rise in demand, there are now a vast number of banks, credit unions and other financial institutions which deal with the provision of loans of various types, suited to different categories of consumers.
Concept and Facilities
Talking about loans and other forms of financial assistance, one of the most often heard concepts is that of a secured loan. Though popular, but quite a few consumers are often not too clear on what is a secured loan.
To begin with, the first underlying principle of a secured loan is the provision of an asset offered as collateral or a security against the amount of loan. In most of the cases such collateral includes assets like an automobile or property. Such a loan then becomes secure debt, owed to the creditor or the lender who has given the loan.
In a situation where the borrower fails to meet the conditions of the loan and pay the amount back to the creditor within the specified time limit, the creditor then has a right to sell the pledged collateral to reclaim the amount of money involved. In other words, from the creditor's perspective, what is a secured loan? It is actually a portion of the bundle of rights to the specified property being granted.
The lenders who are well versed with what is a secured loan always prefer this category of loans due to the immense amount of security attached to it. The lender feels secure in the knowledge that in case the borrower fails to repay the amount, the creditor already has an asset in his possession to be made use of. For the borrower who often has to analyze what is a secured loan, it is a much better option as the rate of interest available is much lower than the other loan categories due to the security being involved.
In case you need to have a further insight into what is a secured loan, you can simply resort to taking a lot of inputs from the internet. There are an umpteen number of websites that are available to give you an in depth knowledge of what is a secured loan.
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Secured Loans News
PennantPark Investment Corporation Announces Financial Results for ... - CNNMoney.com
 RTT News | PennantPark Investment Corporation Announces Financial Results for ... CNNMoney.com - As of September 30, 2008, our core assets (consisting of subordinated debt, second lien secured debt, equity investments and selective senior secured loans) ... Crystal River Capital, Inc. Q3 2008 Earnings Call Transcript Delayed quote data George Weston Limited - Quarterly Report to Shareholders |
Is taking out an unsecured loan the best thing to do? - Thrifty Scot
Is taking out an unsecured loan the best thing to do? Thrifty Scot, UK - If you are considering taking out a loan deciding if you should go for an unsecured or secured loan is usually the first choice you will need to make and ... |
Breakingviews.com Commercial Loans Are Looking Risky - New York Times
 New York Times | Breakingviews.com Commercial Loans Are Looking Risky New York Times, United States - The idea behind them is to let fast-growing companies add senior debt, secured by specific assets, without having to ask existing senior lenders for ... |
Four at Four: An Outright Disaster - Wall Street Journal Blogs
 Wall Street Journal Blogs | Four at Four: An Outright Disaster Wall Street Journal Blogs, NY - The Markit LCDX Index shows a marked deterioration in insurance on senior secured loans. (Markit.com) There’sa constant preoccupation with the idea that ... |
Iceland gets $2.1 billion loan from the IMF - MarketWatch
 Aljazeera.net | Iceland gets $2.1 billion loan from the IMF MarketWatch - Additional loans totaling as much as $3 billion have been secured from Denmark, Finland, Norway, Poland, Russia and Sweden, the IMF said. ... WRAPUP 1-Iceland gets $10 bln in aid, Europeans pitch in 2nd UPDATE:Iceland Aid Could Top $10 Billion On "Prefinancing" Loan Iceland Gets $11 Billion Bailout, but Will be Saddled with Debt ... |