Meaning of “borrow against” in the English Dictionary


"borrow against" in Business English

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borrow against

phrasal verb with borrow uk /ˈbɒrəʊ/ us verb [ I or T ]

[ I or T ] FINANCE, BANKING to borrow money and agree to give valuable property to the organization who has lent it to you if you fail to pay it back:

They borrowed against their stock portfolio so they could buy 36 acres from a local farmer.
They borrowed £55,000 against the property, then valued at £225,000.

(Definition of “borrow against” from the Cambridge Business English Dictionary © Cambridge University Press)