Loans made to one or more individuals who have pledged a "security interest" in an asset. This does not mean that we hold possession of that asset during the course of the loan. What it does mean is that, in the case of default, the asset may be subject to repossession. Repossession is where physical possession of the asset could change to the lender. Repossession is BAD for the lender, borrower and borrower's credit. This lender wants to avoid all repossession but understands that making a secured loan does allow the lender to loan more money to a qualified borrower than could be loaned making an unsecured loan. For more information, ask one our helpful loan officers.