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Business Loan Details
A business loan is a loan made to a
business entity by a lending institution or
finance company.
The terms available for this type of
financing can vary greatly, and these loans
can be made on a secured or unsecured basis.
The collateral for a secured loan may be the
asset that is being purchased with the
proceeds from the business loan, other
company assets or personal assets of the
company's owner (often done by securing a
lien against the borrower's residence).
Business loans made to small business
entities, on an unsecured basis, often
require a personal guarantee of the business
owner.
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Important
Notices....... |
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