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Related to subprime: Subprime Lenders
Relating to loans that have a high interest rate and high risk of default.
[sub- + prime (from the fact that loans with high interest rates are offered to nonpreferred or less creditworthy borrowers).]
American Heritage® Dictionary of the English Language, Fifth Edition. Copyright © 2016 by Houghton Mifflin Harcourt Publishing Company. Published by Houghton Mifflin Harcourt Publishing Company. All rights reserved.
(Banking & Finance) (of a loan) made to a borrower with a poor credit rating, usually at a high rate of interest
(Banking & Finance) a loan made to a borrower with a poor credit rating
Collins English Dictionary – Complete and Unabridged, 12th Edition 2014 © HarperCollins Publishers 1991, 1994, 1998, 2000, 2003, 2006, 2007, 2009, 2011, 2014
A term used to refer to any loan or credit product with terms and conditions that are less stringent than normal. For example, a mortgage product designed to be made available to customers with poor credit histories may be described as a subprime mortgage.”
Dictionary of Unfamiliar Words by Diagram Group Copyright © 2008 by Diagram Visual Information Limited