An Unsecured Business Loan is a type of financing where the borrower does not need to provide any tangible assets as collateral. The loan amount is advanced upfront and is repaid through fixed monthly or weekly installments over a pre-agreed period. While no physical security is required, the business owner is typically asked to provide a personal guarantee.

This type of finance is a good option if you need to access funding quickly and don’t want to risk collateral. However, the interest rates are typically higher because the lender is taking on a larger risk.

It’s important to carefully consider your financial situation, explore other funding options, and choose the type of finance that aligns best with your business goals and repayment capacity.