unsecured loan

Definition

A loan that is not backed by collateral. also called signature loan.

Use unsecured loan in a sentence

You should always make sure you trust the other party any time you will be entering into an unsecured loan.

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A loan that is granted on the basis of a borrower's credit, rather than by any type of collateral, is an unsecured loan.

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The couple had a spotty credit history, and were told that there was no chance they would qualify for an unsecured loan in any amount.

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