What are the collateral requirements?
The collateral requirements depend on many factors, one being loan size requested. Our organization is more flexible than banks when reviewing collateral. CEF always requires the personal guarantee of the applicant(s). We also require that business assets be held as collateral. Because of the personal guarantee, a clean credit history can play a big part. A $1,000 loan is very different from a $50,000 loan. The entire loan application is reviewed to see where the strengths and weaknesses lie. We can take a lien on a home, vehicles, and other personal assets. Co-signers are always an option and are used quite often.
