Collateral is a piece of property used to secure a loan. When you secure a loan, you put up collateral so that if you can’t pay back the lender, they can sell the equipment and get their money back. Collateral enables large loans to be obtained. When you pledge collateral, the lender assumes less risk and can provide you with a lower interest rate.
When a lender wants some assurance that they will not lose all of their money, collateral will be required. If you pledge an asset as collateral, your lender has the right to take action (if you fail to make loan payments) and seize the collateral you used to secure the loan. The collateral will then be sold, and the proceeds will be used to pay off the loan. Lenders would prefer to get their money back and avoid having to go to court, so they try to use collateral as a safeguard.
We understand the importance of timing as leaders in small business growth funding. Unlike most banks, we are committed to providing the most flexible financing options available, as quickly as possible!
Receive funding within 24 hours of approval
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If you accept, you’ll receive the funds in your account typically the following day.
We assist small businesses in obtaining the capital they require to manage challenges and opportunities—and to succeed on their own terms.
Funding a small business is a big deal. We make obtaining financing quick, personalized, and simple.
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