what is loan? name types of loan?
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Based on whether they require collateral, loans are classified into secured loans and unsecured loans. Let's take a look at each type. I. Secured loans These are loans that do require collateral, i.e., you have to provide an asset to the lender as security for the money you are borrowing
Answer:
What are the types of loans and explain?
What are the types of loans and explain?Based on whether they require collateral, loans are classified into secured loans and unsecured loans. Let's take a look at each type. I. Secured loans These are loans that do require collateral, i.e., you have to provide an asset to the lender as security for the money you are borrowing.