Interior decorating is not my forte. But the bank does not know that. So, with an unsecured Business Loan, I can be on my way to bringing back the seventies one house at a time. No matter what the style of your business, an unsecured business loan should help. They do not discriminate against companies with unwanted products or a bad sense of style.

I came up with a great idea the other day. I am going to get started in the real estate business. I’ll buy old, run down homes and rebuild them with a 1970s flair– complete with shag carpeting, earthy oranges and really funky furniture. I’ll probably throw in some black lights, beaded doorways and some prints and artwork that will really complement the places. They are going to have amazing fengshui, awesome fuzei and an ambiance like you have never seen (possibly you are grateful for this fact). I just need tens of thousands of dollars to buy a home and get the whole things started.

Perhaps this idea is crazy. However, in our beautiful country, I could probably get a loan to get started with the project. And if I do not want to use any of my possessions as collateral, I do not have to. With good credit, I can still probably get an unsecured business loan. I will end up having to pay a premium because I didn’t want to use any collateral but I have the money I need to get my “creative” idea started.

Loans are a cornerstone of our economy. Look at the example I just gave. All I need to get a business started in this country is an idea and a loan. I don’t actually even need money– if I have an idea or good credit, lenders will give it to me. It sounds almost surreal, but it has been a crucial part of American business.

Loans like the unsecured business loan allow small businesses to get started, and allow people to buy homes and go on vacation. Loans allow businesses both small and large to grow more quickly than would otherwise be possible. The federal government itself has depended on loans, although arguably in excess. Our presidents have borrowed to pay for wars, to help foreign countries in need, and to help stimulate rebound from economic depressions and recessions. (I am trying to stay positive by glossing over the fact that we have trillions of dollars in debt). When money is borrowed wisely, it can create opportunity and growth where it previously did not exist.

Therefore, money borrowing and lending is a thriving business. And because it is a business, when someone gives out a loan, they expect to be paid back with Interest. If they don’t get paid back, they are going to find themselves out of business in a hurry. As a result, they examine the people that they are going to give loans to very carefully. They look at their credit reports and more. In fact, there is a system of five “Cs.” In Warren, Reeve, and Fess’ Corporate Financial Accounting, they describe these Cs clearly. Character refers to the likelihood that the loan will be honored. Capacity is the ability to repay the loan. Capital refers to the value of the business. Collateral is the value of assets that the business is willing to give the creditor in the event that they cannot repay the loan. Lastly, Conditions refer to the current economy and expectations– it may be very difficult for a business to repay a loan during an economic recession or depression. But these are only general guidelines. If you are willing to pay a premium for a loan, they may be willing to give it to you. For example, an unsecured business loan may be offered. An unsecured business loan is a loan that essentially ignores one of the five “Cs”: collateral. So, for a couple more percentage Points, you may be able to get a loan in spite of the fact that you are not willing to use your house, car, or business as collateral. As indicated before, lenders are willing to offer leniency for bad credit, if you are willing to pay a premium.

Well, I am off to the bank to take out a loan so that I can put up some shag carpet on the walls of the new master bedroom.