Honest comparison of features, costs, and best use cases. Updated 2026.
| Factor | Secured Loan | Unsecured Loan |
|---|---|---|
| Collateral | Required (real estate, equipment, AR) | Not required (PG only) |
| Rate | Lower (4-15%) | Higher (8-30%) |
| Loan Amount | Higher possible | Lower limits |
| Risk | Lose asset if default | No specific asset at risk |
| Approval | Easier with strong collateral | Based on revenue/credit |
| Best For | Large amounts, real estate, equipment | Working capital, fast funding |
| Speed | Slower (collateral evaluation) | Faster |
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