What is a collateral loan?
Collateral based loan is any property offered by a borrower to lenders as security for the loan they take.
In this event, if the borrower can’t repay the loan, the lender has the right to seize the collateral, recoup some or all of the loan’s amount. A lender’s claim to collateral is called a lien. Although it is typical for the property being borrowed against to be put up as collateral.
there are different types of assets that may be offered as collateral, including real estate, vehicles, and even heirlooms with monetary value.
What do we need to fund you?
- Collateral market value should be minimum 100k
- 4+ Months in business
- minimum $20000 monthly revenue