FAQ: Do I require assets to borrow from urLoan?
We are often asked whether it’s possible to borrow from us without any assets?
The answer is Yes. urLoan is an alternative lender to the banks and we only offer unsecured term loans, which means we do not request collateral at the time of borrowing.
In general, if you own your home for example and you’re considering applying for a loan to help with a major purchase, you have a choice between secured and unsecured lending options. Secured loans are typically secured against your assets like your home, resulting in higher borrowing amount and lower interest rates, while unsecured loans can mean faster approval times since collateral is not required. That being said, we recognize that not everyone owns their home or has assets and that’s where urLoan is here to help!