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This question is about careers.
What is collateral in business?
In business, collateral refers to property or other assets that a business can use to secure a loan. If the business fails to pay back the loan within the agreed time frame or the loan terms, the lender can seize the collateral and sell it to get back some of the money.
Most business loans require some sort of collateral for a business to qualify for a loan. Examples of collateral include physical items like cars, boats, and houses.
They can also include cash in different accounts, such as savings or a certificate of deposit. Stocks, bonds, and insurance policies also may be included as collateral.
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