Definition from Wiktionary, the free dictionary
See also: sub-prime
subprime (not comparable)
- Less than prime; inferior.
- (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).
2014 April 5, Alex Preston, Flash Boys: Cracking the Money Code by Michael Lewis, review: Michael Lewis tells the compelling true story of one man’s mission to tame Wall Street [print version: Capital ventures], London, archived from the original on 8 April 2014, page R26:
- Central to the story was Steve Eisman, an eccentric and rebarbative hedge-funder who was one of the earliest to see through the subprime lies.
- (US, banking, dated) Designating a type of commercial lending rate, less than the prime rate, offered to desirable borrowers.
- American Dialect Society's Word of the Year (2007)
subprime (plural subprimes)
- A subprime loan.