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How to Take Out a Small Business Loan Without Collateral

A small business owner smiling for the camera

There was a time when pledging an asset as collateral was an integral part of the lending process. That time has long gone. Now that there are multiple other ways to estimate the likelihood of full repayment, many lenders are willing to extend a loan without collateral.

At Whitestone Fund, we make access to business loans and cash advances in NYC easy for businesses. Your business can qualify for a loan even if it’s just six months old. We refer you to money lenders in NYC offering loans best suited to your finances and business needs. Get in touch to learn about your secured and unsecured loan options.


Unsecured business loans are common now, but if your business is new and your business credit score is low, lenders may require at least some form of security. You may be asked to sign a personal guarantee. Here’s what that means.

Signing a Personal Guarantee and What it Means

Signing a personal guarantee makes you personally liable to repay the loan. This doesn’t mean pledging your personal property as collateral to secure the loan, but the lender can file a court order to liquidate your assets to cover your debt in case you default. You may not need to sign a personal guarantee in every case. Contact NYC business loan agent referral professionals for more information.

Let’s now look at some types of loans you can get without collateral.

Types of Small Business Loans Without Collateral

Line of Credit

A line of credit lets you borrow any amount you need up to a certain limit. You only pay interest on the amount you borrowed. This loan is commonly used to fix temporary cash flow problems.

Revolving Credit

Revolving credit allows you to borrow money from a lender, use the money, repay the dues, and then borrow again repeatedly. Revolving credit is similar to a line of credit in that you can borrow up to a certain pre-set limit, but a revolving credit account stays open till you close it.

Merchant Cash Advance

A merchant cash advance is a short-term loan and allows you access to capital which you pay back with a portion of your sales in the following months. A merchant cash advance allows you to secure a higher amount than the previous two types of loans.

Merchant Cash Advances in NYC Without Collateral

At Whitestone Fund, we help businesses get cash advances and business loans in NYC to ensure smooth operation and sustainable growth. We also offer merchant cash advances in NYC of up to $1,500,000 with terms ranging from 6 to 36 months. Click here to connect with a representative now!

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