unsecured loan


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Unsecured Loan

A loan that is not secured by an asset or lien, but rather by the all issuer's assets not otherwise secured. This means that an unsecured liability carries no collateral; in case of bankruptcy, the bondholder is considered a general creditor. Thus, the bondholder is paid out of funds that do not have a prior claim on them with a secured debt. Like most bonds, an unsecured bond is tradeable. Some unsecured bonds, such as Treasury securities, are considered risk-free.

unsecured loan

money BORROWED by a company or individual without offering any COLLATERAL SECURITY to the lender.

unsecured loan

A loan without collateral.
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a US$4,000,000 unsecured loan provided by Kennecott, with a maturity date of December 21, 2015; and
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constituting [pounds sterling]1,000,000 variable rate unsecured loan notes (the "Unsecured Loan
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Barclays Capital Real Estate provided the unsecured loan and the equity investment was provided by Fortress Investment Group.
At the time, DWP officials backed by then-Mayor James Hahn gave an unsecured loan to the company - Personal Electric Transports, or PET, Inc.
Small restaurant chain looking for $70,000 unsecured loan at 7% or less over 5-7 years to consolidate a 50k and 20k loan.
The documents reveal that former Metal Management chairman Ben Jennings, who has not been affiliated with the company for more than two years, has received an unsecured loan of $9.
One benefit of switching is the option of taking out a bigger mortgage and an unsecured loan together.