What Is Collateral For a Business Loan? (2022)

Alexis Juanita

What is Collateral? Chances are you’re already familiar with collateral, but even if you aren’t, it’s very straightforward. Collateral is an asset used to help secure a loan. If the borrower defaults, the lender collects the collateral to cover the lost costs. In most cases, lenders prefer business assets that […]