Getting a business loan can be tough. You need collateral to secure the loan and if you’re just starting out or a small business owner that hasn’t accrued collateral yet, this can be an issue. Assets that can be used as collateral buildings, equipment, vehicles, or even accounts receivable. If you aren’t able to pay back your loan, these assets may be seized and used to subsidize the loan.
Not having collateral doesn’t mean your business is out of the game though! Keeping your business on the move with an SBA loan is feasible if you know about the four ways to receive a business loan without collateral.
Small Business Administrations LoansAdministered by the Small Business Administration (SBA) and designed to help business owners in need of working capital, SBA loans are generated by a network of traditional lenders and guaranteed by federal …
