A secured loan requires collateral equal to or greater than the loan amount. Common types of collateral include shares in an account, which must maintain a balance equal to or higher than the outstanding loan balance. The brief guide outlines that secured loans are granted using collateral pledged by the borrower, with the value of the collateral needing to match or exceed the loan value. It provides an example of using shares in an account, excluding IRAs, as collateral for a share secured loan.