unsecured loan

[ uhn-si-kyoord lohn ]

Phonetic (Standard)IPA

noun

, Finance.

a loan that is supported only by the borrower’s creditworthiness and income and does not require the borrower to put up collateral, as a home or vehicle, to back up the loan. A personal loan made to someone is usually an unsecured loan.

First recorded in 1905–10

The report that a bank had given an unsecured loan to a superPAC turned out to be based on flawed FEC reporting.

This unsecured loan was one of the very things, I doubt not, that helped to inspire general confidence.

If you prefer, you may regard this amount as an unsecured loan and repay it with current interest on opportunity.

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