A secured line of credit is guaranteed by a home, a car or any other asset called collateral. Unsecured lines of credit don’t involve any assets. Credit card is one such example. The interest rate is always higher in unsecured lines of credit.

A secured line of credit is guaranteed by a home, a car or any other asset called collateral. Unsecured lines of credit don’t involve any assets. https://www.lendzi.com/small-business-loans/business-line-of-credit/