In fact, it’s virtually impossible to find an unsecured small business loan (i.e. one without some form of collateral) that comes with reasonable interest rates. And by offering up collateral, you are able to tell the bank what you’d like to offer up as payment if you for some reason default on the loan—rather than leaving it up to them. Some business loans require security https://www.wikipedia.org/ in the form of assets or personal guarantees. A business that doesn’t have assets of sufficient value or can’t provide a personal guarantee may be refused finance. We are a licensed credit broker and do not provide finance ourselves. Sorodo Limited can introduce applicants to a number of finance providers based on the applicants’ circumstances and creditworthiness.
The interest rate is fixed for the term of the loan and agreed at the outset. Interest is charged throughout the full loan and any month when … Read More