What Is a Secured Business Loan and When Should You Choose One?
A secured business loan is a funding option backed by collateral like property, equipment, or inventory. Because of the reduced risk to the lender, these loans often come with lower interest rates and higher limits. A secured business loan is best for long-term expansion, infrastructure projects, or purchasing high-value assets. While the approval process may take longer, it offers more favorable terms for businesses with valuable assets and a strong repayment plan in place.
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