Secured Business Loans vs.
Unsecured Business Loans
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Secured Business Loans
When business owners look for business financing, one of the first decisions they’ll make is whether a secured loan is a better option for them than an unsecured loan. Understanding the differences will allow you to find the type of funding that is best for your business.
Secured business loans are loans that are “secured” by some asset (e.g. equipment or property) as collateral for the loan, which then becomes a secured debt owed to the creditor who gives the loan. Unsecured business loans are not protected by any collateral. If you default on the loan, the lender can't automatically take your property.