A secured loan is a loan in which the borrower's property or the property of a third party is used as the loan guarantee according to the loan contract or the borrower's agreement, and if necessary, the third party is jointly liable for repayment.

Secured loan means that when the borrower cannot provide mortgage (pledge) in full, the third party recognized by the lender should provide joint liability guarantee.

If the guarantor is a natural person, he must have a fixed income source, have sufficient compensation ability and have a certain deposit in the loan bank; The guarantor and the creditor shall conclude a guarantee contract in writing.

If the guarantor changes, it must go through the formalities for changing the guarantee in accordance with the regulations. Without the approval of the lender, the original guarantee contract may not be revoked.