What are mortgage-secured business loans?

Often, a mortgage over residential or commercial property is used to secure a business loan. If the borrower is unable to continue making payments, the security for the loan mayn be sold to repay any outstanding balance. Some business loans are different because they are available even to applicants who do not own a property. In this case, the business and its assets secure the loan in addition to guarantees. Typically, mortgage-secured loans will have a lower interest rate.