A _____ is debt backed by some physical asset other than land, such as machinery, equipment, or inventory.

Question

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A chattel mortgage loan is a loan where the borrower puts up movable personal property, such as inventory or equipment, as collateral for the loan. This type of loan is often used by businesses to finance the purchase of equipment or other assets that can be easily liquidated if the borrower defaults on the loan.

A _____ Is Debt Backed by Some Physical Asset Other