That’s why its client base is quite big. While students and tenants are the main clientele, people looking for finances to start up their businesses also apply for it.
Thirdly, even if the rate of interest is higher than secured loans, unsecured loan which are offered by private companies take lesser time in getting processed. The conditions to be eligible for a business loan are quite flexible so the application is approved quickly. Plus, the process of money disbursement is also quite prompt so you do not need to wait for a long time to get your loan money.