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Q.

High value ____ is required to get a loan from formal credit sources.

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Detailed Solution

High-value collateral is required to get a loan from formal credit sources.
To get credit from official sources of credit, a high value of the collateral is necessary. Collateral is the proper answer to this question. Collateral is an asset or kind of tangible wealth owned by the borrower, such as a home, cattle, or automobile. Banks make loans to borrowers on the basis of these assets. The collateral acts as a kind of security for the lender. If you do not make payments, your lender may repossess the collateral as payment for the loan. The value of the collateral must be greater than the amount the borrower wants to borrow in order to get the loan amount.

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High value ____ is required to get a loan from formal credit sources.