No Collateral Loan
Collateral: Assets pledged by a borrower to secure a loan or other credit, and subject to seizure in the event of default, also called security.
That means if you put up collateral for a loan, your assets can be seized; that is, you can lose your house or car. Another way to think of it: if the lender knows he stands to gain your house or car, he’s got to feel much more secure in lending the money you need.
Now look at unsecured, another way of saying no collateral loan: Read more