Sure, this type of loan does not require any collateral, meaning you won't have to risk your personal or business assets to secure the loan.
For small-business owners, unsecured business loanscan be a double-edged sword.
Sure, this type of loan does not require any collateral, meaning you won't have to risk your personal or business assets to secure the loan. But there's a downside: Unsecured business loans come with high costs and large payments. Borrowers should carefully weigh the negatives of unsecured business loans against the positives.
Here are the main pros and cons of getting a business loan without collateral and some tips on how to get funded.