You apply for a secured loan by filling an application form that has all the detail such as loan amount, duration and other necessary information. The lender will assess your loan application along with your credit report. If your loan application is accepted by the lender and if you agree to all the Terms & Conditions proposed by them, then you can expect the funds to be transferred within 1-2 days. The only difference in the way of working of these loans is the – collateral.