Why do some lenders require borrowers to secure credit?

Some lenders require borrowers to secure credit to mitigate risk. Secured credit means that the borrower provides collateral, such as property or assets, which the lender can claim if the borrower defaults on the loan. This reduces the lender's potential losses and can also lead to lower interest rates for the borrower, as the risk is diminished. Overall, securing credit provides a safety net for lenders while enabling borrowers to access funds they might not qualify for otherwise.