# sum of money lent

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Secured loans work on a promise made by the customer to the lender that they will pay the agreed sum of money lent back to the creditor and this debt is secured against the client's property.

This form of loan works on a 'promise' made by the customer to the lender that they will pay the agreed sum of money lent back to the creditor and the debt is secured against the client's property.

The same dictionary defines a "loan" as "a thing especially a sum of money lent to be returned with or without interest".

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