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bezimeni [28]
3 years ago
9

If a borrower with poor credit needs a loan that is easy to obtain and provides

English
1 answer:
dmitriy555 [2]3 years ago
8 0

Answer: Secured loan

Explanation:

A person with poor credit is not going to be easily trusted by lending agencies and if they are, they would be charged huge interest rates to cater for the risk associated with borrowing to a person with a low credit score.

One of the best loans to get for such a person is a secured loan. Secured loans use an asset such as physical assets like houses and cars as well as financial assets such as stocks and bonds.

The creditor can then take the asset if the person defaults. Secured loans are easier to get for people with poor credit because the asset covers them.

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