If your business were to default on the secured consolidation loan and go bankrupt, you could risk losing your home as well as your business.
Consolidating key alternative loans michael jackson dating pamela anderson
The benefits of a private consolidation loan may include making one lower monthly payment through an extended repayment period.
Also, if you have more than one private loan lender, consolidating these loans may make managing your loans easier and more convenient.
WARNING: Do not consolidate federal student loans with private student loans.
Federal loans have better interest rates, better repayment terms, and they have deferment and forbearance options.
What are the downsides of business debt consolidation?