For a small-business owner, an unsecured business loan has an attractive advantage over a secured loan. When the loan is secured, assets you use as collateral are at risk — perhaps your home, your business equipment or inventory. If your business goes south and you can’t pay the loan, the lender can take those possessions. Unsecured loans, on the other hand, place the burden of the risk on the lender. Numerous alternative lenders offer unsecured loans. They base approval on the…
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