Unsecured loan

May 15th, 2010 by shwetabh

A loan that is not backed by any security for the lender. In this situation, the lender does not have any backup to rely on in case the borrower defaults on the loan repayment. There is no safety net present for the lender in such a type of loan and the recovery will have to be made from the borrower.

Published on May 15, 2010 · Filed under: Loan Against Property Glossary;

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