Summary:- What is a secured loan and where to obtain a secured loan

 Business 
 Loans


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banks and finance house - secured loans.

A loan which is backed by assets belonging to the borrower in order to decrease the risk assumed by the lender.

The assets may be forfeited to the lender if the borrower fails to make the necessary payments.

The number one asset is property - your home, your office, your farm, your factory.

In most cases this is the cheapest type of loan with interest rates on the loan a few percentage points above base rate.

There is also no requirement to sell a share of your business.

But a high price to pay if the loan is not repaid.

 



Before approaching anyone for a business loan, it is essential to make up a business plan in a format that can be easily read by the prospective source of funds.
It is important for the main facts to be brief but complete and supported by further documentation if required.
A business plan that resembles a short novel is not the way to attract backers.
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