Kevin received unsecured financing from a bank for his plumbing business. This means that Kevin did NOT have to provide the bank with which of the following?
A) reasons for the loan
B) application forms
C) collateral
D) credit reports

Question

Quizplus · Accepted Answer

Unsecured financing means that the borrower does not have to provide collateral, such as property or assets, to secure the loan. The bank may still require reasons for the loan, application forms, and credit reports to evaluate the borrower's creditworthiness.

Kevin Received Unsecured Financing from a Bank for His Plumbing