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When a small business cannot show collateral to provide safety and security for the bank loan, the industrial bank will certainly ask for the small business proprietor to secure the car loan with his/her own individual properties or equity, such as equity in a residence or cash in a monitoring, financial savings, or retirement account, such as a 401k or IRA. This latter circumstance positions the personal properties of the owner in danger in the event of a small business failure. Furthermore, basically all small business loans will certainly require the business owner to have exceptional individual credit scores as well as FICO scores, along with require a personal warranty.