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Unsecured business loans


Unsecured business loans are funding that lenders give to borrowers without the requirement of putting assets as a security against the loan, and in most cases, the security assets are either motor vehicles such as cars, motorbike etc, or properties such as houses, units, lands etc. And if the borrowers owns motor vehicles or properties and decide to place them against the loan, it is called secured loans.

How it works

And because unsecured business loans are not secured by any assets, it would mean a lower risk for the borrower, but on the other hand, it is a much higher risk for lenders to give out unsecured business loans. Therefore, typically, lenders would give out unsecured business loans at a higher interest rate. Because without as assets supporting the loan, the lender do not have anything in hand to make up for the loan, and it would mean a great lost if the borrowers do not repay the loan.

Reasons behind unsecured

Although unsecured business loans have a much higher interest rate, many business owners still tend to go with it even know they have assets themselves to put as security, that is because many business owners would not wish to connect their business assets with personal assets, they want to keep it separated. And the main reason is because they do not want the business side to affect their personal life. Because think about it, if the business owner put the place they are living in as a security against the business loan, it means they have to repay the secured business loan. But what if the business does not go so well, and the business owner can no longer repay the loan. It would mean that the lender can take away the property they are living in to make up for the loan, and this would affect the normal life style of the business owner, and in the world of business, nothing can be guaranteed, and they would not wish to take the risk, they would rather pay more to avoid it.

Business owners reckon that business should support their own funding, instead of personal life that helps them with it, and unsecured business loans are what they are looking for. Because having an unsecured business loan means that your personal assets are protected, and the business side would not affect the personal side of business owner, and that is why we provide it to make your business improve your personal life, hence not putting your personal assets at risk.

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