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An unsecured loan is a loan that doesn't require any type of collateral. Instead of relying on a borrower's assets as security, lenders approve unsecured loans based on a borrower’s creditworthiness.
Businesses who do not have high-value assets (or do not wish to offer these as collateral) stand to benefit from unsecured finance. They are given the freedom to borrow money to assist with expansion and growth, while maintaining peace of mind that their assets are not at risk.
Businesses looking to embark on a capital-intensive project can benefit for the same reason: they are able to carry out the project safe in the knowledge that risk to business property and assets is minimised.
Industries such as retail and leisure are also well suited to unsecured finance, as the terms of lending favour businesses who are prone to have unexpected expenses that need only short-term loans to bridge the gaps.