ʌnlˈaɪk ʌnsᵻkjˈʊɹd dˈɛt, sˈɛkənd lˈiːən lˈoʊnz ɹᵻsˈiːv ɐ plˈɛdʒ ʌv spəsˈɪfɪk ˈæsɛts ʌvðə bˈɑːɹoʊɚ ˈiː.dʒˈiː., bˈɪldɪŋz, lˈænd, ɪkwˈɪpmənt, ˌɪntəlˈɛktʃuːəl pɹˈɑːpɚɾi, ɹᵻsˈiːvəbəlz ænd ˈʌðɚ faɪnˈænʃəl ˈæsɛts.
Unlike unsecured debt, second lien loans receive a pledge of specific assets of the borrower (e.g., buildings, land, equipment, intellectual property, receivables and other financial assets).