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What type of collateral is required for a loan? Will I be required to pledge personal assets?

April 26, 2017assets collateral loan pledge type

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What type of collateral is required for a loan? Will I be required to pledge personal assets?

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Business assets are generally required for collateral. In some cases, including an SBA or State guarantee, all owners of twenty percent (20%) or more of the business are required to personally guarantee SBA loans. Also, a request for personal collateral from the principals may be required.