Secured loan

(redirected from Secured Credit)

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.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved

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.

Dictionary of Financial Terms. Copyright © 2008 Lightbulb Press, Inc. All Rights Reserved.
References in periodicals archive ?
Great Rock Capital, an asset-focused commercial finance company specializing in middle market lending, has announced the closing of a USD 50 million senior secured credit facility for an environmental restoration, land reclamation, and construction business, the company said.
27 June 2019 - US-based middle market financing specialist LBC Credit Partners provided senior secured credit facilities to support the acquisition of Indiana-based marble products manufacturer MPL Holdings, LLC by Illinois, US-based private equity investment firm Wynnchurch Capital, LLC, the firm said.
Housed at the SECP head office, it will facilitate small-scale borrowers in obtaining secured credit from formal financial institutions.
Most recently, the bank launched the Key Secured Credit Card, a no-annual fee credit card designed to help clients build or strengthen their credit history.
Auto Business News-October 1, 2018--Busche Performance receives USD150m with completion of senior secured credit facility
Wingstop announced that its board has approved a special cash dividend of $3.17 per share to stockholders in conjunction with the company closing on a new $250M senior secured credit facility.
TELECOMWORLDWIRE-March 29, 2017-ING helps close EUR 175m senior secured credit facilities for euNetworks Holdings
(NYSE: CJES), a provider of well construction, well completions, well support and other complementary oilfield services to oil and gas exploration and production companies, has signed a Restructuring Support Agreement with certain of its secured lenders, representing greater than 50 percent of the outstanding principal amount under the company's secured credit facility.
(NYSE: TDG) said that it has requested amendments to its senior secured credit facilities in connection with considering whether to pay a special dividend.
has completed the closing of the refinancing of its existing senior secured credit facility.
(NASDAQ: HCOM) said it has closed the refinancing of its existing senior secured credit facility.