When you’re ready to make a significant investment in the future of your business, you need a way to fuel it financially. But here’s the challenge: these types of investments don’t always yield immediate returns. As a result, you need a predictable financial solution that won’t strap your business for cash.
A business term loan is that solution.
There are unsecured business term loans and secured business term loans. With unsecured loans, you’re not required to offer collateral to obtain the loan, though you may have to provide a personal guarantee. This means that if your business can’t repay the loan, you’ll be personally responsible. Also, you’ll likely have a higher interest rate and shorter repayment window than you’d find with a secured loan.