A secured loan is backed by collateral — something the lender can take if you don't repay.
A secured loan is credit backed by a pledge of specific collateral, giving the lender recourse to that asset upon default.
Most farm lending is secured, which can mean better terms than unsecured borrowing but puts the pledged asset at risk.
A loan backed by a tractor or land is a secured loan.
Planning a purchase or refinance secured by farmland? AgLoans.com helps farm families prepare a clear, lender-ready package for requests of $500,000 to $25 million secured by agricultural real estate.
Visit AgLoans.com