Unsecured Business Loans
While we traditionally work with Community Banks, there are plenty of cases when small businesses do not fit into a traditional bank's lending model. For these cases, we have partnered with preferred lenders OnDeck and Kabbage to offer you hassle-free, unsecured online lending options.
Financing on your terms!
- Unseucred lending options
- Flexible options for soft or bad credits
- Simple online application process
- Quick answer - Usually within minutes
What is an Unsecured Business Loan?
Unsecured business loans are, simply, small business financing options that don’t require a borrower to put forth any collateral for the loan. Borrowers avoid the risk of putting valuable assets on the line for financing, but lenders make up for their increased risk by charging higher interest rates or requiring personal guarantees.
Should you use unsecured business loans to grow your business? When is a small business loan unsecured by collateral a better option than one that has collateral behind it?
To put it simply, collateral is a specific asset or set of assets that gets liened against a small business loan. If a business fails to make regular payments on the loan, lenders can obtain a court order to seize that property from the borrower and liquidate it for repayment of the loan.
If your business has assets—like expensive computers or manufacturing equipment, real estate, vehicles, or valuable inventory—you might be able to use those assets as collateral for the loan. But if your business does not have owned assets to offer as collateral, lenders might expect you to collateralize your loan through personally-owned assets, like your family home.