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Unsecured Loans: Definition and Explanation

By Susan 1 year ago
Unsecured lending involves obtaining a loan without providing any guarantees from the potential debtor. Typically, lenders offer the client to collect a small set of documents, which includes an income statement. If the borrower expects a long-term loan, collateral is used to secure it. Sometimes even guarantors are involved. Unsecured…

Is a Secured Loan a Good Option?

By Susan 1 year ago
Despite the ever-growing popularity of unsecured loans, a secured personal loan is considered to be one of the first types of lending included in banking practice. It should be noted that this type of lending has a number of significant advantages and drawbacks. Nevertheless, this category of loans is one…