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hi everyone if youre new here welcome im lena im a certified public accountant and in todays video i will explain what collateral is in the world of finance the term collateral refers to an asset that a lender accepts as security for a loan essentially collateral is an item of value used to secure a loan the collateral acts as a form of protection for the lender if a borrower defaults on the loan the lender has a legal right to seize the collateral and sell it to recoup its losses collateral may take the form of real estate or other kinds of assets depending on the purpose of the loan if a sole proprietor takes out a loan for his or her business the lender would be able to go after all personal assets of a sole proprietor to recoup its losses in the event of a sole proprietor defaulting on the loan remember to subscribe to my channel for daily content on personal finance tax and small business ownership see you in my next video