collateral
/kəˈlætərəl/
noun
- Something valuable (like property or money) that a borrower agrees to give to a lender if the loan is not repaid.
- He used his car as collateral to get a small business loan.
- The bank required the house as collateral for the mortgage.
- If you fail to make payments, the lender can seize the collateral.
adjective
- Additional but secondary; happening as a side effect, often in a negative way.
- The company faced collateral costs from the delayed shipment.
- The storm caused collateral damage to nearby buildings.
- There were collateral benefits to the new policy, such as improved employee morale.
- Related but less important; parallel or accompanying.
- They discussed collateral issues like parking and noise.
- The report included collateral information about the project's history.
- The study examined the main topic and several collateral factors.
Synonyms