Sentences with phrase «additional collateral for your loan»
• Coming up with additional collateral for your loan.
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Getting a loan in cash requires time for considering an application, collecting additional documents, assessing the collateral or presenting a surety.
If, for example, a business receives a large order for services or equipment but needs a temporary loan to purchase the equipment from wholesalers or hire additional staff to fulfill the order, the order itself can serve as collateral.
«The court has determined that in the absence of additional security or assets pledged by a surety, it will not accept as security the Alexandria property that has already been pledged in its entirety as collateral for the loan on the Bridgehampton property,» the order reads.
The cash value can be used to cover premium payments, to purchase additional insurance, or as collateral for a loan.
An additional benefit is that the cash value life insurance can be used as collateral for a small business loan.
In another case, a debtor to the credit union executed two collateral mortgages as «additional security» for «existing loans».