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  1. #1

    Collateralized Loan

    Anyone use a bank as collateral?

  2. #2
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    You mean use the bank as the guarantor? Like a bank letter of credit?

  3. #3
    Senior Member Reputation points: 13252 SendDocsPlox's Avatar
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    deditated wam

  4. #4
    As in their checking/ saving account as collateral

  5. #5
    Senior Member Reputation points: 73209 ridextreme's Avatar
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    Quote Originally Posted by MoneyMan1 View Post
    As in their checking/ saving account as collateral
    So they freeze their accounts so they can't take out the cash then?

  6. #6
    Exactly

  7. #7
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    So a cash advance?

  8. #8
    Senior Member Reputation points: 22304 Olderguy's Avatar
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    Passbook loans — sometimes called pledge savings loans — are a type of secured loan that uses your savings account balance as collateral. These loans are offered by financial institutions, like banks and credit unions, and can be a convenient way to borrow money while rebuilding your credit
    Steve Benjamin
    Professional Business Loans

    Irvine, CA 92620
    steveprobiz@gmail.com
    https://probizloans.net/
    949.228.1050

    @ 24 hour funding working capital loans
    @ Term loans from 3 years to 10 years at 6% and up
    @ Equipment financing up to 6 years
    @ Property loans - Primary, Investment, commercial, land, fix and flip, construction.
    @ SBA loans - 7A and 504.
    @ Homeowner loan 2nd position- 15 year 8.99% no lien
    @ Private money equity and debt for major investments

  9. #9
    At World Business lenders, GSantos@wbl.com, 212.271.8284

    Only real estate as collateral. Any type.

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