SECURED BUSINESS LOAN TYPES

Below are your informational guide to all different types of Secured Business Loans.

Explore our guide to various types of Secured Business Loans. Whether you’re considering collateral-based options or seeking insights into secured financing solutions, we’ve got you covered.

What is Secured Business Loan?

Definition: Secured business loans are loans that are backed by collateral, which is an asset or assets that the borrower pledges to the lender as security for the loan. If the borrower defaults on the loan, the lender can seize the collateral to recoup their losses.
Key Points:
- Collateral: Required, which can be real estate, equipment, inventory, accounts receivable, or other valuable assets.
- Risk: Lower risk for lenders because they have a way to recover their funds if the borrower defaults.
- Interest Rates: Generally lower compared to unsecured loans due to the reduced risk for the lender.
- Eligibility: Easier to qualify for if the borrower has valuable collateral to pledge.
- Examples: Secured loans can include mortgages, equipment loans, and asset-based financing.

Click Here To View ‘Unsecured Business Loan’ Types

Factoring	Small SBA Loans	Equipment Financing	Large SBA	Commercial Loans
Credit Score 550+	Credit Score Any	Credit Score 500+	Credit Score Any	Credit Score 650+
Time in Business Any	Time in Business 12 months+	Time in Business Any	Time in Business 12 months+	Time in Business Any
Monthly Revenue $10,000+	Monthly Revenue $20,000+	Monthly Revenue Any	Monthly Revenue $20,000+	Monthly Revenue Any
Loan Amount $2k+	Loan Amount $1k – $3MM	Loan Amount $20k – $5M	Loan Amount $200k+	Loan Amount $150k+
10% – 25%	7% – 15%	8% – 36%	<10%	7% – 18%
Benefits: Perfect credit not required.	Benefits: Low APR, Fixed or variable rate. Start Up Financing. Commercial property financing. low down payment.	Benefits: Lowest interest rate to buy equipment than MCA ,Tax deductible and depreciation benefits, Own the equipment outright. Monthly payment.	Benefits: Lowest interest rates of all types, Longer terms, Can borrower larger amount.	Benefits: Investment 4+ Unit Commercial Real Estate is still booming. Earn equity on property, Built in collateral
Drawbacks: Customer may rather deal directly with business, Depending on the situation can be a higher cost.	Drawbacks: Longer application process, Require a personal guarantee or collateral and down payment.	Drawbacks: Equipment can become outdated. Higher down payment for bad credit. No early payoff discount.	Drawbacks: Application is time consuming, Long time to approval and funding, Down payment required.	Drawbacks: LTV is never 100%. Must include plans to build a structure. Longer application process.
Apply Now	Apply Now	Apply Now	Apply Now	Apply Now
Invoice, A/R Aging Report	Full financial package + year-to-date financials, Debt Schedule	1-2 years tax returns (only if request is over $75,000	3 years tax returns personal financial statement year-to-date financials	Borrower Financial Statement (PFS) Personal Tax Return
600 FICO Score	680 FICO score	600 FICO Score	680 FICO Score	680 FICO Score

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