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So are unsecured business loans safe? The answer is: Yes An unsecured business loan does not require a guarantee by any definition. For your small business, this is an important safety net. And for you also, as you are the owner of your business. If something goes wrong and you cannot reimburse your loan, you… Read more »
In the business world, there are generally two types of loans: secured and unsecured business loans. Secured loans have collateral that guarantees them. For example, a house loan is secured because if you are declared as a defaulter by the lender, the house can be taken back in return of payment. Many lenders don’t require… Read more »
What’s the Difference Between Secured & Unsecured Loans? An unsecured business loan is a loan made to a business without collateral. A secured small business loan is a loan made with something used as collateral for the lender to recoup their losses if the business defaults. Here are a few differences: Collateral Secured —… Read more »