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    3 Replies Latest reply on Mar 22, 2009 8:21 PM by wilfin

    How do collateral loans work?

    sarkarind Newbie
      I was wondering if someone can help me with figuring out ways to finance my business. I just started a new corporation. I want to obtain secured lines of credit and collateral loans because my personal credit is not so strong at this time. Any suggestions?
        • Re: How do collateral loans work?
          LUCKIEST Guide
          How do collateral loans work??, Welcome

          Who are you?? Go to Members page and share some info.

          To finance your business you need a Business Plan
          • Re: How do collateral loans work?
            LUCKIEST Guide
            Collateral loans

            Who are you?? Have you developed a Business and marketing Plan that I can read??
            • Re: How do collateral loans work?
              wilfin Adventurer
              Hi Sarkarind,

              While not to mislead you, in this day and age good credit is important. Especially in terms
              of procuring a loan, business or otherwise. BTW, the "build business credit" will soon be preying upon
              you....be careful. No banks I have ever worked for ever gave a flip about what your paydex score is,just
              for the record. But,that's another subject.

              If you have collateral and depending on what it is, if your business has been established for at least
              3 years, has revenue,etc.etc. Where there's a will there may be a way. Tell us more of what you are
              looking to accomplish.

              Luckiest is right. You do need a business plan and an executive summary as well.

              What collateral do you have? Is there equity? Tell us more.