A secured debt is a debt on which payment is guaranteed by an asset or lien. This means that a secured debt has collateral; if the debtordoes not repay the debt in due course, the creditor has the legal right to take possession of the collateral and resell it to recover losses. In case of bankruptcy, the creditor is considered a secured creditor, which means the creditor … [Read more...]
A Guide to Unsecured Business Loans
Wondering whether to pledge your property, machinery or account receivables to get the loan you need? Could never figure out how unsecured business loans really work or what they mean to a small business owner?It is time to find out the best option for your business. Debt financing has never been popular with small business owners. I can understand why it is being avoided as … [Read more...]