Description
Secured Loans for Businesses
These loans are those which are taken against some type of personal guarantee or any valuable asset as collateral. Inventory loans, equipment loans, term loans and loan against property are secured business loans.
Unsecured Loans For Businesses
In many situations, businessmen and self employed prefer to take unsecured business finance with no collateral requirement because of the following reasons:
Short turnaround time of 5 -15 days as compared to secured loans
No collateral or security required to get this loan
Reduces your dependence on friends, relatives or money lenders for borrowing for urgent or seasonal business expenses
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