Small-business loans typically require collateral, which can be business or personal, and include real estate, equipment, savings, or other assets. But if you don’t have collateral to pledge for the loan or don’t want to put personal assets on the line, you have no-collateral business loan options.
Unsecured business loans can be tougher to qualify for and may carry higher interest rates than secured loans, but they have less risk for borrowers. What you’ll learn here:
- How do unsecured business loans work?
- Where can you get an unsecured business loan?
- How can you choose the best unsecured business loan?
What Are the Best Unsecured Business Loans of 2020?
U.S. News conducted an in-depth review of the top small-business loan companies to recommend the best alternative lenders offering unsecured business loans. Recommendations are based on key factors, including customer service ratings, collateral requirements and loan options.
- Loan types: lines of credit
- Minimum FICO credit score: undisclosed
- Maximum loan amount: $100,000
- Better Business Bureau rating: A+