secured

  

Definition

Credit, loan, or obligation whose full payment or satisfaction is guaranteed by the pledge of something of equal or greater liquidation value.

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Obtaining a Business Loan versus Using Your Credit Card

Plan to borrow money with a business loan instead of using your personal credit card. "For some small business owners, particularly those at startup companies, a personal credit card may be their only or best option for financing expenses," said Luke Reynolds, an FDIC Community Affairs Specialist. "But for many owners, a business loan will be a much less expensive option," he said, because the bank loan will be secured by the business' property or equipment.

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