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Business Loans

idkmybffbill
Posts: 87
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3/2/2010 7:32:32 PM
Posted: 6 years ago
If you were to get a business loan to start a business, what are four examples of collateral that you could use to get your loan?
I-am-a-panda
Posts: 15,380
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3/3/2010 8:55:37 AM
Posted: 6 years ago
- Your house
- The building you wish to use if you are buying one

It depends on the size of the loan.
Pizza. I have enormous respect for Pizza.
brian_eggleston
Posts: 3,347
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3/3/2010 10:05:59 AM
Posted: 6 years ago
When I set up my business I obtained the finance from private investors in exchange for shares.

Nevertheless, in order to set up a corporate bank account with a pre-approved overdraft, I had a choice to either secure the facility on a property and or obtain a personal guarantor - somebody who had sufficient funds to cover the amount of the overdraft and who would sign a legally-binding agreement to say that they would cover the bank's losses if the business went belly up and defaulted on the loan.
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Ragnar_Rahl
Posts: 19,297
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3/3/2010 2:21:14 PM
Posted: 6 years ago
Self is effective, spouse is effective with spouse's consent (*cough* Nat Taggart *cough*).

None of those is legal right now though.
It came to be at its height. It was commanded to command. It was a capital before its first stone was laid. It was a monument to the spirit of man.
Ragnar_Rahl
Posts: 19,297
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3/3/2010 2:21:40 PM
Posted: 6 years ago
Amended: Spouse is effective with spouse's consent if she's hot.
It came to be at its height. It was commanded to command. It was a capital before its first stone was laid. It was a monument to the spirit of man.
collegkitchen4
Posts: 42
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3/3/2010 3:39:58 PM
Posted: 6 years ago
At 3/2/2010 7:32:32 PM, idkmybffbill wrote:
If you were to get a business loan to start a business, what are four examples of collateral that you could use to get your loan?

Any assets you have.

1. House
2. Car
3. Steady Income
4. Land
5. Stocks, Bonds, Certificates of Deposit (CDs), etc.
6. Jewelry / Gold / Expensive home items