Secured business lines of credit and term loans

Secured business lines of credit and term loans

If you want a line of credit or term loan bigger than the maximums made available from Bank of America’s quick unsecured loans, you are able to submit an application for a secured loan.

Demands are stricter: you really need to have made $250,000 in product product sales into the this past year.

These loans are supported by a lien on your own business’s assets so Bank of America has a significantly better potential for getting compensated if you default on the mortgage. […]