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secured loan
[ si-kyoord-lohn ]
/ sɪˈkyʊərd ˈloʊn /
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This shows grade level based on the word's complexity.
noun Finance.
a loan that is backed up by collateral pledged by the borrower, which the lender can sell to cover repayment of the loan if for any reason the borrower is unable to do so: A mortgage is the most common type of secured loan, in which the home or property backs up the loan.
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QUIZ YOURSELF ON "WAS" VS. "WERE"!
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“Was” is used for the indicative past tense of “to be,” and “were” is only used for the subjunctive past tense.
Compare unsecured loan.
Origin of secured loan
First recorded in 1895–1900
Words nearby secured loan
secundine, secundines, secundipara, secundus, secure, secured loan, securement, secure server, secure tenancy, secure unit, securities
Dictionary.com Unabridged
Based on the Random House Unabridged Dictionary, © Random House, Inc. 2022