A secured business loan is ideal for entrepreneurs seeking high loan amounts at lower interest rates. These loans require collateral like property, machinery, or inventory. In the middle of expansion plans or asset purchases, secured loans offer longer tenures and better terms. They reduce the lender’s risk, leading to faster approvals and higher amounts. However, businesses must evaluate the risk of asset loss in case of default. For capital-intensive operations or businesses with valuable fixed assets, secured loans can be the best long-term financing solution. Always compare offers from banks and NBFCs before finalizing a loan.
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