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    Any time someone borrows money from a bank, the funds lent are referred to as a loan. Any time when the bank asks for collateral (a security that the bank takes charge of if you are unable to
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    a loan. Any time when the bank asks for collateral (a security that the bank takes charge of if you are unable to
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    for collateral (a security that the bank takes charge of if you are unable to
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    k takes charge of if you are unable to pay, like your home or property), that’s called a secure loan. A first secured loan on property is considered to be first charge, while a second loan (pe

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