Editorial Note: We earn a commission from partner links ... you’re sure to come across a common term—collateral. Collateral is a frequent business loan requirement, but it’s not necessary ...

It has also advanced a $300,000 loan to OSR Holdings Co., Ltd., and issued multiple promissory notes, including a $800,000 unsecured note to Duksung Co., LTD., and a $40,000 note to board member ...

In contrast, an unsecured loan is one without any collateral tied to it. While some personal loan agreements that involve a small amount of money only require a master promissory note, more ...