Question

Which of the following statements about loan terminology is correct?

A) Loan covenants are the collateral provided by a borrower to a lender as security on a loan.

B) A secured loan means that the borrower has a pre-approved line of credit backing the debt.

C) Lenders can revise loan terms if a borrower violates a loan covenant.

D) All companies are able to establish lines of credit which will allow them to borrow money as needed, up to a prearranged limit.

Answer

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