When a borrower pledges collateral to obtain a loan, the lender is known as a secured creditor. This statement is true.
A secured creditor is a creditor whose money she borrowed out is secured by an asset. The asset can be taken over by the creditor if the borrower defaults on the loan.
A secured creditor is less exposed to risk when compared with an unsecured creditor.
To learn more about a secured creditor, please check: https://brainly.com/question/16100102
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