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Secured Business Loans

Secure the growth
of your business.

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What is a Secured Business Loan?

Every business owner at one point of his/her life has to take help from small business loans. Provide collateral for a small business loan and secure yourself a secured business loan. A secured business loan is when a borrower has to offer a valuable asset to secure a loan. Usually, lenders define the kind of collateral they expect from the lenders. The payment terms are set by the borrowers, and they have the liberty to choose between monthly, weekly or daily payments.

In most of the cases, a lender might accept artifacts, antique jewelry, gold, diamond, massive house, cars, or any of your prized possessions. Offer the collateral as per lender’s requirement. Merchant Advisors offers custom-tailored, unique and capable funding and financing options to its customers. If you are agreeing to an unsecured business loan, basically you are agreeing that if you are unable to pay the loan, the lender is allowed to seize the equipment.

Secured business loans are the most compatible business loans and that’s the best active deal in the market. Most of the small business loans are secured in their nature. So, if you are running a successful business from home, but need an external source of funds, you must apply for a Home Based Business Loan. Moreover, if your restaurant or construction company needs the addition of equipment, go with equipment financing for it is a secured business loan.

Lenders won’t hurt their repute to lend you a loan. Mostly, the application gets rejected because the lender sees something shady in the application. Lenders are operating on 50/50 chance of the borrower turned out of a defaulter or conformists. As it is a risky business and the lender will never face the worse consequences. So, the next time you see ‘unsecured business loan; you must be able to detect the catch. Because collateral is always involved. In the case of an unsecured business, loan collateral exists as well, although the mention won’t be as clear as it should be.
All this takes won’t make any sense if you are unclear regarding the nature of the collateral. Anything that can be turned into paper –cash, is called as collateral. Putting down collateral means less risk for the lender. So, evaluate the risk before selecting the business loan.

Potential Assets You Can Put Up As Collateral

Secured loans or loans that are secured by the collateral can be obtained on much lower interest rates. And if a lender makes an official claim to the collateral, it is called a lien. The kind of collateral to offer varies according to the nature of the business loan. Want to lend some cash to purchase a car; the said car would act as collateral. In the case of a loan for house shopping, the house would act as collateral.

We have compiled a list of assets that can act as collateral, skim through it to get a better hold:

Secure a loan with a Personal Guarantee

Thinking about taking an adverse step, because you don’t have any valuable belongings such a car, house or a yacht to offer? A ray of hope still exists for you; you can secure a business loan by giving the personal guarantee.

In case of any discrepancy and failure to pay the debt, the borrower is personally responsible for the damage. Agreeing upon a personal guarantee means giving the lender the autonomy to see whatever and whichever asset he sees appropriate.

Access Unsecured Business Loans

Have access to unsecured business loans in three simple steps:

Apply
Apply

Tell us about your time in business, annual revenue, business plan and fill out our online application in a couple of minutes. We use an eclectic approach; we will look at all the contributing factors other than a credit score.

Review
Review

If we like your application, you will hear from us in less than 2 business days. As we offer flexible payment terms, you have the liberty to select the amount of payment. Read the contract carefully before signing the dotted line.

Get Funded
Get Funded

Once you are approved for the loan and have signed the contract, the amount will be transferred into your bank account. Use the funds easily to cover your financial needs and grow your business as per your dream.

Types of unsecured business loan

The ultimate goal of an alternative lender is to provide financial assistance to its customers. As previously explored, you will have access to funds to lease equipment or a decent opportunity to streamline the cash flow for any home-based business loans.

We have mentioned prominent features of some secured business loan:

Pick the one that fulfills your needs.

Pros and Cons of Secured Business Loan

Nothing in this world comes for free; there is always a catch involved. Secured Business Loan is worth having a glimpse at for its pros outweighs the cons.

Pros of Secured Business Loan
Pros of Secured
Business Loan

1. The loan is accessible at a very reasonable rate.
2. Since you are providing the collateral, the lender pays limited attention to other financially contributing factors.
3. Flexible repayments terms give the borrower more control.

Cons of Secured Business Loan
Cons of Secured
Business Loan

1. Failure to make the repayment on time may result in irreparable loss.
2. The interest rate will be varying continuously, depending on the current trend and the nature of your loan.

Why choose Merchant Advisors’ for Secured Business Loans?

Secured business loans from Merchant Advisors offer small businesses the flexibility to use the loan for many loan purposes, including property financing, fixed asset procurement, or for general purposes like working capital. Merchant Advisors strives to provide the best financial support by identifying your business’ unique history, present financial position, and future working capital needs. Merchant Advisors’ 95% approval rates, zero upfront fees and more than 20 years of experience providing quality, specialized financing advice is on your side. Take advantage of business expansion initiatives and engage in rewarding marketing opportunities with our secured business loans.

The Last Drop Wisdom

From all the information that we have shared, it is evident that no such thing exists as ‘a free of collateral’ loan. So whenever you hear a lender talking about an unsecured business loan, distance yourself. Majority of the small business loan lenders ask for some kind of guarantee.

The only way you can keep your business running and get funds from the external party is to be the best business wo(man) you can!

Lastly and more importantly if you are making repayments on time then you are out of the woods. Unsecured business loans will act as the best financial fix for your business. Use the funds wisely!