To secure financing for a planned expansion,JamesCo Electronics borrowed $400,000 from King Finance.The ________ loan agreement requires that JamesCo Electronics provide the title to their factory as collateral.

Question

Quizplus · Accepted Answer

A secured loan agreement requires the borrower to provide collateral, such as the title to a factory, to secure the loan.

To Secure Financing for a Planned Expansion,JamesCo Electronics Borrowed $400,000