What is equity lending?

Answer 1

It is a loan based on the equity you have in something.

You own a house. It's market value is $200,000. You owe the mortgage company $150,000.

The equity you have in the house is $50,000.

If someone gives you an equity loan, it would be on the $50,000.

That's a pretty simplistic explaination but it gives you the basic premise.

Answer 2

your being loaned money off the equity that has accrued on your property.