Скачать или смотреть Proof of Collateral: 18 Business Loan Requirements

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When applying for a business loan, traditional lenders will likely want to see that you have collateral. Collateral is an item of value that you are willing to give up in case unforeseen circumstances prevent you from paying back the loan.

Collateral can take the shape and form of almost anything including real estate holdings, your personal home, equipment, vehicles, and company inventory. The items you use as collateral are at risk if you default on your loan.

Alternative lenders have a different approach and not all loan products require collateral in order to qualify. With more traditional institutions, an appraiser is sent out to certify the value of what you submit for collateral. With real estate loans, the collateral is the land or building that you intend to purchase. The same thing goes with equipment loans; the equipment itself represents the collateral.

If you don’t have collateral, we would still like to hear from you as there is likely a way we can help you find the financing needed.

At First Union Lending, we want to help your small business thrive. With 11 funding options, we have solutions to fit your specific business needs. We can also get you funded fast. Call today to learn more about our financing solutions to help your business become successful.


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