You can apply for a secured loan if you need a credit line or term loan larger than the maximums offered by Bank of America’s unsecured loans.
Needs are stricter: you really need to have made $250,000 in sales within the this past year.
These loans are supported by a lien in your company’s assets so Bank of America has a far better potential for getting paid if you default on the loan.
These loans are your most useful bet in the event your business has significant cash requirements.
Gear loans are created to allow you to buy costly gear that you’ll want to run your company. You get your business rolling whether you need packing machines, conveyor belts, printing presses, or a delivery truck, this loan can help.
Where you should Try To Find Unsecured Loans
If none of Bank of America’s loan offerings be practical, you will find range loan providers that provide unsecured loans: