Categories
Phone.Com

Secured company lines of credit and term loans

Secured company 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 short term loans, you are able to make an application for a secured loan.

Demands are stricter: you really need to have made $250,000 in sales within the year that is last.

These loans are supported by a lien in your business’s assets so Bank of America has a better possibility of getting paid if you default on the loan.