Sentences with phrase «blanket liens for»
Not exact matches
While there is no specific collateral requirement for Fundation business loans, the lender has a blanket lien on your business assets, meaning that in the event of default, Fundation has the right to take possession of any business assets to fulfill the debt.
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When you are approved for secured financing, a lender will file a UCC - 1 financing statement with the secretary of state (SOS), creating a lien against the asset (s) in particular (unless the lender files a blanket lien naming all assets) that's being used by the borrower to secure the financing.
UCC - 1 filings can either be filed for specific assets — such as a commercial property or piece of equipment — or as a blanket lien covering all of the borrower's assets.
UCC - 1 filings can either be filed for specific assets — such as a commercial property or piece of equipment — or as a blanket lien covering all of the borrower's assets.
While there is no specific collateral requirement for Fundation business loans, the lender has a blanket lien on your business assets, meaning that in the event of default, Fundation has the right to take possession of any business assets to fulfill the debt.
Most traditional lenders, and even many alternative lenders, require collateral or a blanket lien on business assets from small business owners applying for a loan.
When you are approved for secured financing, a lender will file a UCC - 1 financing statement with the secretary of state (SOS), creating a lien against the asset (s) in particular (unless the lender files a blanket lien naming all assets) that's being used by the borrower to secure the financing.
It's not uncommon for a real estate investor to snap up a new listing using funds obtained from a blanket loan and the liens are filed against a single family rental, a duplex and a strip mall.