Secured Bad Credit Business Loans: For obtaining a secured bad credit business loan, it is necessary to maintain a security or collateral against the loan. As the loan is secured in nature, the rate of interest (APR or annual percentage rate) charged is comparatively lower than the unsecured bad credit business loans.
Unsecured Bad Credit Business Loans: For getting an unsecured bad credit business loan, it is not essential or mandatory to keep a collateral or pledge against the loan. As a result, the rate of interest or APR charged is higher than the secured bad credit business loans.
Tapping opportunities for new business.