what kinds of collateral are banks looking for when applying for business loan/credit line?

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what kinds of collateral are banks looking for when applying for business loan/credit line?

2006-09-17 15:01:48 · 4 answers · asked by wildame12 1 in Business & Finance ➔ Small Business

4 answers

Assets that are paid for.
Inventory is not elegible. Suppliers have first claim.
Accounts receivable.

If start up, personal assets fully owned, and your credit history.

2006-09-17 15:14:51 · answer #1 · answered by ed 7 · 0⤊ 0⤋

I had a friend start her own tanning salon and I remember she said she had a hard time getting enough collateral she even used some of her jewelry good luck

2006-09-17 22:27:13 · answer #2 · answered by dydy 2 · 0⤊ 0⤋

A business plan and what ever collateral you have like your house
Is this a start up business or an existing business?

2006-09-17 22:07:54 · answer #3 · answered by Bigboi47 3 · 0⤊ 0⤋

expect to put your house, or car up.

2006-09-17 22:13:02 · answer #4 · answered by Anonymous · 0⤊ 0⤋