Startup Terms Glossary
What is Security Interest?
When an asset is used as collateral on a loan, in the event of a default, the lender has the right to seize the property and liquidate it to satisfy the borrower’s remaining commitment. A security interest is a legal term to describe the claim that lenders have on items used as collateral. A security interest is attractive to lenders because it lowers their risk for losing money on a loan.
Security Interest Examples
Examples of security interest:
- Example 1. A startup acquires a $20,000 loan from a lender to expand their business. The lender requires collateral against the loan to lower the risk of losing money on the deal, so the startup offers up the mortgage to their building as collateral. The lender then enters into a security interest that legally allows them to seize the property in the event that the startup defaults on their loan obligations.
Here’s another web page about security interest.
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