unsecured loan

[ uhn-si-kyoord lohn ]

noun

, Finance.

1. a loan that is supported only by the borrower’s creditworthiness and income and does not require the borrower to put up collateral, as a home or vehicle, to back up the loan. A personal loan made to someone is usually an unsecured loan.

Word History and Origins

Origin of unsecured loan¹

First recorded in 1905–10

Example Sentences

The report that a bank had given an unsecured loan to a superPAC turned out to be based on flawed FEC reporting.

From The Daily Beast

This unsecured loan was one of the very things, I doubt not, that helped to inspire general confidence.

From Project Gutenberg

If you prefer, you may regard this amount as an unsecured loan and repay it with current interest on opportunity.

From Project Gutenberg