Author: HeroFinCorp

Every business needs loans in different scenarios, and the presence of multiple lenders gives a business owner many choices. Typically, a small business loan has two categories: secured and unsecured. A secured loan is a loan in exchange for security. Technically, the security has been called collateral, which can be one or multiple valuable assets. The lender will sell the collateral through an auction if the borrower cannot repay the loan. On the other hand, an unsecured loan does not require collateral. Lenders offer such loans depending on the borrower’s credit history, reputation, yearly revenue, etc. Small enterprises and entrepreneurs…