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Cross-Collateralized Loans

Collateralized loans are a convenient way to obtain money quickly for businesses that have difficulties getting a traditional loan at a bank. Indeed, a collateralized loan uses one of your valuable items (a car, a title or a house for instance) to secure the loan for the lender. If you already have taken out a collateralized loan, there is an even more practical way to obtain funds quickly: cross- collateralized loans! Keep reading to learn more about how Blursoft can help your business’ cash flow with a cross-collateralized loan.

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Cross-Collateralized Loans by Blursoft

Are you a business owner in need of capital? Or perhaps you have just started your business and need money to grow? Maybe you have existing debts that you would like to refinance? All businesses, even the ones that are doing good, will feel the need to seek financing at some point. If you have bad credit or no credit rating, you may not be able to access a conventional loan. In a cross-collateralized loan, you optimize an asset that’s already used as collateral for more than one loan. A cross-collateralized loan can generate money-making opportunities for your business by making the most of the value of your assets. In concrete terms, it provides your business with the capital it needs by using the assets you have available to secure a new loan. This a great solution for businesses with bad credit!

Cross-Collateralized Loans vs Unsecured Loans

In banking, there are two kinds of loans that you can apply for: secured loans or unsecured loans. Secured loans are backed by collateral, whereas unsecured loans are not. Since secured loans are backed by collateral, they allow you to borrow larger amounts of money. In the event that you cannot pay back the loan, the lending institution can seize your assets. Nevertheless, secured loans offer many advantages. The first one is lower interest rates since the lender has less risk due to the collateral that you are providing. Another advantage is that you can pay back the loan over a longer period of time. But perhaps the best advantage of all is that you can more easily get a secured loan even if you have bad credit!

Applying for a Cross-Collateralized Loans

Blursoft is a leading provider of financial services and solutions that help businesses grow their revenue by providing them with access to capital at competitive rates. Blursoft makes it amazingly simple and fast to apply for a cross-collateralized loan. You just need to fill in an online form and a loan specialist will contact you to discuss your needs and your situation. Since the loan is secured, approval ratings are generally remarkably high. Once approved, you will receive the funds in just 24 hours. Don’t stay without the capital you need for your business! Many businesses who have found themselves unable to get a loan from a traditional bank due to all the red tape in the loan application process have found a helping hand and an attentive ear with the team at Blursoft. So, what are you waiting for to finance your growing business? Go to the Blursoft website and apply today!

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The owner and operator of Blursoft.com is not a lender and is not involved in making credit decisions associated with lending or making loan offers. Instead, this platform is designed only for a matching service, which enables the user’s contact with lenders and third parties. The website does not charge any fees for its service, nor does it oblige any user to initiate contact with any of the lenders or third parties or accept any loan product or service offered by the lenders. All the data concerning personal loan products and the industry is presented on the website for information purposes only. Blursoft.com does not endorse any particular lender, nor does it represent or is responsible for the actions or inactions of the lenders.

Blursoft.com does not collect, store or have access to the information regarding the fees and charges associated with the contacting lenders and/or any loan products. Blursoft.com cannot guarantee that the user of the website will be approved by any lender or for any loan product, will be matched with a lender, or if matched, will receive a business loan offer on the terms requested in the online form. The lenders may need to perform credit checks via one or more credit bureaus, including but not limited to major credit bureaus in order to determine credit reliability and the scopes of credit products to offer. The lenders in the network may need to perform additional verifications, including but not limited to social security number, driver license number, national ID or other identification documents. The terms and scopes of loan products vary from lender to lender and can depend on numerous factors, including but not limited to the state of residence and credit standing of the applicant, as well as the terms determined by each lender individually.

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