Secured Term Loans
Product features:
No restriction on the use of funds
3rd party security accepted
New start businessese
No proof of income
Adverse considered
Up to 75% LTV
What is a secured term loan?
A secured loan is a financial product that is secured against property, real estate, cars, machinery and more. From the lender’s perspective, the risk involved is much lower than unsecured loan products, which is why secured loans often have much lower interest rates.
How does this compare to an unsecured loan?
Unsecured loans do not require any collateral, posing a higher risk to lenders. As such, an unsecured loan typically carries a higher interest rate. On the other hand, secured term loans are seen as safer for lenders because of the added collateral to cover the debt. For this reason, interest rates are generally much lower.
What should you consider before applying for a secured loan?
As previously noted, secured term loans require you to put up assets as collateral. This can carry an added level of risk in case of non-repayment. A key consideration for business owners should be their financial capabilities – how much can they afford to borrow? Speak to Sandbanks Investments today to discuss our product line and to find a solution that best suits your needs.
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