The figures do not include secured loans, which many banks made (and which are much more likely to be paid).
The number of small businesses defaulting on secured loans had also increased in the first quarter of 2011.
If you want to borrow more than £25,000, you will need a secured loan.
A mortgage is a secured loan, therefore, providing collateral is necessary.
In recent weeks at least six banks have sold all or part of their secured loans, for 61-65% of their face value.
That left open the possibility that there were more secured loans outstanding.
The revised plan would call for $1.1 billion in secured loans and $900 million in other financing.
Business loans, including secured loans, are offered by some companies.
Then the secured loans, in order of their documented priority, would be paid.
A secured loan is exactly what it appears.
Słownik finansowy