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What does social security loan mean?

A form of applying for a loan from a financial institution.

Social security loan refers to a form in which the borrower uses his or her social security payment record as a guarantee for repayment and applies for a loan from a financial institution. This form of loan has gradually emerged in recent years, attracting more and more borrowers. Social security loan is a kind of credit personal loan business. The borrower can obtain a certain credit line without providing collateral or other guarantees.