Secured loan

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Secured Loan

A loan with collateral. That is, the borrower pledges a property or other asset to the creditor and states that the creditor may take ownership if the borrower defaults on the loan. Sometimes the creditor even takes possession of the collateral, though this is not always the case. A common example of a secured loan is a mortgage, in which the lender has the right to take ownership of the real estate purchased with the mortgage if the property owner does not make payments in a timely manner. In corporate finance, all secured loans must be repaid before any unsecured loans are repaid.

Secured loan.

A secured loan is a loan that's guaranteed with collateral, such as a home or car. If you default and fail to make payments on time, the lender can take possession of your collateral and sell it to recover the loan amount.

In most cases, lenders charge a lower interest rate on a secured loan than on an unsecured loan of comparable size. An unsecured loan is guaranteed only by your promise to pay, not by collateral.

References in periodicals archive ?
17 per share to stockholders in conjunction with the company closing on a new $250M senior secured credit facility.
has inked new senior secured loans (the 'New Senior Secured Credit Facilities') with Barclays Bank PLC, as administrative agent, and a group of banks, to substitute its current senior secured credit facilities.
announced today the refinancing of its bank credit facility with a new amended and restated senior secured credit facility.
M2 EQUITYBITES-November 27, 2012-National CineMedia refinances its senior secured credit facility to USD265m(C)2012 M2 COMMUNICATIONS http://www.
In addition, it's a good idea to get a secured credit card if you're building credit.
Transaction Network Services Inc (TNS) (NYSE: TNS) announced yesterday that it has completed a refinancing of its existing senior secured credit facilities.
QA Recently, I obtained a secured credit card through my bank in an effort to maintain my credit standing.
PHILADELPHIA -- RAIT Financial Trust (NYSE: RAS) today announced the recent completion of the extension of the repayment terms of one of its three secured credit facilities.
5bn senior secured credit facility(C)2011 M2 COMMUNICATIONS http://www.
Even though the company's senior notes are equally and ratably secured with the senior secured credit facilities under the terms of the related indenture, the rating of 'BB-' for the senior notes incorporates the fact that the secured credit facilities have the sole rights to ACS' accounts receivable, which represented approximately 21% of total assets and 43% of tangible assets as of Dec.
PHOENIX -- ON Semiconductor Corporation (NASDAQ: ONNN) today announced that it is seeking an amendment of its senior secured credit facilities to extend the maturity date, to reduce the interest rate, and to enhance flexibility to incur indebtedness, repurchase stock and make restricted payments and investments, all subject to market and certain financial conditions.
Additionally, the maturities of Terra Capital's $150 million senior secured credit facility and Terra Nitrogen's $50 million senior secured credit facility will be extended by four years to 2012.