kevinfer07 kevinfer07

25-08-2022
Business

contestada

Which type of lender offers very short-term loans using a piece of property you own as collateral?
A) payday lender
B) bank
C) credit union
D) title lender

Respuesta :

okpalawalter8 okpalawalter8

26-08-2022

A bank is a type of lender that offers very short-term loans using a piece of property you own as collateral

This is further explained below.

What is collateral?

Generally, In the context of financial transactions, the provision of collateral refers to the transfer of specified property from a borrower to a lender in order to guarantee the repayment of a loan.

In conclusion, A bank is a particular kind of lending institution that may provide extremely short-term loans to borrowers in exchange for collateral in the form of real estate.

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