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What is collateral?
a type of unsecured credit
property given as security for a loan
funds borrowed to buy property
a payment to reduce overall debt

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Property given as security for a loan
 that is why there is insurance for "collateral damage.
ogorwyne

A collateral can be defined as: property given as security for a loan.

What is a collateral?

This is a form of security that a lender has to demand from a borrowesr before they are allowed access to a loan.

The collateral is always in the form of property. If the money borrower fails to pay the money that they borrowed, this property can be confiscicated.

Read more on collateral here: https://brainly.com/question/14997152

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