Unsecured Loan

# A loan made with no collateral posted to ensure repayment. Variable cost. A cost that varies directly with sales, such as raw materials, labor and sales commissions.

# Any loan that is not backed by collateral.

# A loan granted based only on the borrower's promise to repay.

# An advance of money that is not secured by collateral.

# A loan in air, with no asset pledged as collateral or security for it.

# An unsecured loan is bank credit extended without collateral.

# A loan for which there is no collateral required. The loan is backed up only by the promise of the borrower to repay.

# An unsecured loan is not backed by collateral, and hence represents greater risk to the lender. The lender may require a co-signer on the loan to reduce their risk. If you default on the loan, the co-signer will be held responsible for repayment. Most educational loans are unsecured loans. In the case of federal student loans, the federal government guarantees repayment of the loans. Other examples of unsecured loans include credit card charges and personal lines of credit.

# Type of arrangement in which borrower has no form of backing or collateral to put forth in exchange for the money he | she is borrowing.

# A loan that is not secured by collateral. Most credit cards are unsecured loans. Since there is no collateral offered, the rate is typically higher to compensate the lender for the greater risk being assumed.

# A debt that isn't backed by collateral.

# A loan in which there is no collateral, this type of loan is based upon personal credit.

# A loan that does not require the user to put up collateral such as a home or auto. • top

# A loan that is not secured against property. The lender therefore has no entitlement to any of the borrower's assets in the event of the borrower failing to make the loan repayments. Such a loan normally carries a higher interest rate than a secured loan

# A loan made without the benefit of a pledge of collateral.

# a loan made without any guarantee that the lender will be repaid.