Business Loan types

Their are so many types of loan. Each lender design their own marketing strategy to get more borrowers. They give different names according to their target market and marketing strategy. But as we mentioned in our home page that their are basically two types of loan

secured and unsecured loans . For Further Detail click here.

 

In unsecured business loan lender charge you high interest rates because your loan is not secured by any property. One thing that you should know is that you can't apply for secured loan after having unsecured loan.

 

Secured loan give you lower interest rate but you property will be plugged to the vender. If you are unable to pay your monthly installments the vender will give you some grace period. Still you don't pay your installments in grace period, vender has a complete right to seize your property. He can get his loan amount back by selling the property. He get his loan back and remaining amount was returned to you.