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What does subprime mean?

Looking for the meaning or definition of the word subprime? Here's what it means.

Adjective
  1. Less than prime; inferior.
  2. (US, banking) (now worldwide) Designating a loan (typically at a greater than usual rate of interest) offered to a borrower who is not qualified for other loans (for example, because of a poor credit history).
  3. (US, banking, dated) Designating a type of commercial lending rate, less than the prime rate, offered to desirable borrowers.
Noun
  1. A subprime loan.
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