Which of the following best describes a secured loan?
A) A loan that does not require collateral and is based solely on the borrower's creditworthiness.
B) A loan where the borrower provides collateral, such as property or a vehicle, which can be seized if the loan is not repaid.
C) A short-term loan with a very high interest rate, typically used for emergency expenses.
D) A loan that can be used for any purpose, including business investments and personal expenses.