An unsecured business loan is one of the ways to secure funds for your small business. It is easy to apply from banks, NBFCs and online lenders and get the amount disbursed in a few days. An unsecured loan helps you manage all type of needs for your small business. It could be for purchase of inventory, managing the working capital or all other small-time needs. 

A business loan of higher amount will require a certain form of collateral. But an unsecured business loan is safer for your small business as you do not have to pledge any collateral to get the loan. Moreover, the lenders cannot seize your property or things related to your business in case of defaults. 

Just like there is no collateral required to get the loan, the unsecured business loan also does not require a guarantor to obtain it. The loan is processed based on your eligibility and disbursed with immediate approval. Though the interest rate on an unsecured business loan could be higher, it is safer than a secured loan as you do not put anything at risk if you happen to go through tough times. 

Looking for an unsecured business loan, check your eligibility here