### Question
How is the term secured loan defined?


### Answer
The term **secured loan** is defined in *23 U.S.C. § 601* as the following:

> a direct loan or other debt obligation issued by an obligor and funded by the Secretary in connection with the financing of a project under section 603

#### Citation:
  - *23 U.S.C. § 601*
  - Heading: **CHAPTER 6-INFRASTRUCTURE FINANCE**

