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Author Topic: non-collateral loan for sole proprietorship (is there such a thing?)  (Read 7278 times)

ajichiban83

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if one makes a non-collateral loan for a business registered as a sole proprietorship, can it really be non-collateral? because the law states that creditors can collect any asset registered to the name of the business if ever it cant settle the bill.. can it really be non-collateral? is there a way to make the claim non-collateral 100% sure? like counter documents or what?

please comment guys..thanx!
« Last Edit: August 23, 2007, 03:01:48 pm by blessing_2000 »

digital mall

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Re: non-collateral loan for soal proprietorship (is there such a thing?)
« Reply #1 on: August 23, 2007, 02:33:46 pm »
what is soal proprietorship? ???

blessing_2000

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Re: non-collateral loan for soal proprietorship (is there such a thing?)
« Reply #2 on: August 23, 2007, 03:01:12 pm »
gets naman nating sole yun kaya edit ko na lang.  :)


Blessing
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ajichiban83

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Re: non-collateral loan for sole proprietorship (is there such a thing?)
« Reply #3 on: August 23, 2007, 03:29:54 pm »
heheh thanx mod!

innova

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Re: non-collateral loan for sole proprietorship (is there such a thing?)
« Reply #4 on: August 30, 2007, 11:53:33 pm »
the bank that im servicing says that what we are offering are non-collateral loans, that's from 30k-2m.  when an applicant declares him/herself as self-employed..they just look at the business' financial docs as basis on what credit limit to give (provided that applicant has good credit history)..we don't ask for titles, etc like what most private lending firms are doing..and the contract (promissory/disclosure note) that you sign once loan is granted doesn't indicate confiscating of items.  actually, upon application what we require is just the applicant's id (as long as he/she is a cardholder).
so to answer your question, yes.  there is such a thing as non-collateral loan.

Kuskos-Balungos

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Re: non-collateral loan for sole proprietorship (is there such a thing?)
« Reply #5 on: August 31, 2007, 12:07:14 am »
the bank that im servicing says that what we are offering are non-collateral loans, that's from 30k-2m.  when an applicant declares him/herself as self-employed..they just look at the business' financial docs as basis on what credit limit to give (provided that applicant has good credit history)..we don't ask for titles, etc like what most private lending firms are doing..and the contract (promissory/disclosure note) that you sign once loan is granted doesn't indicate confiscating of items.  actually, upon application what we require is just the applicant's id (as long as he/she is a cardholder).
so to answer your question, yes.  there is such a thing as non-collateral loan.

May we know what bank are you in? Thanks.

ajichiban83

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Re: non-collateral loan for sole proprietorship (is there such a thing?)
« Reply #6 on: August 31, 2007, 10:21:53 am »
the bank that im servicing says that what we are offering are non-collateral loans, that's from 30k-2m.  when an applicant declares him/herself as self-employed..they just look at the business' financial docs as basis on what credit limit to give (provided that applicant has good credit history)..we don't ask for titles, etc like what most private lending firms are doing..and the contract (promissory/disclosure note) that you sign once loan is granted doesn't indicate confiscating of items.  actually, upon application what we require is just the applicant's id (as long as he/she is a cardholder).
so to answer your question, yes.  there is such a thing as non-collateral loan.

hi innova! thanx for that! can u pm me please where to contact your bank?:)

 

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