FOLIO Ontology

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Secured Credit Arrangement

IRI:
https://folio.openlegalstandard.org/R8qB45AsGZrsWZ5LARtrahR
Preferred Label Secured Loan
Alternative Labels
Collateral Backed Credit Collateralized Credit Arrangement Secured Financing Arrangement Specialty Finance

Definition

A Secured Credit Arrangement is a financial agreement where the borrower pledges assets as collateral to secure a loan. This collateral reduces the lender's risk, as they have a claim on the asset if the borrower defaults, potentially resulting in lower interest rates and more favorable loan terms for the borrower.

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