Business loan is a kind of financing a business owner goes for to full fill the growing need of the business. This loan will be repaid with the interest as per the mandate of loan provider. Business loan can be different types like Overdraft, Asset based finance, Invoice Based Loans, Micro Loan, These loans can be Secured or Unsecured. In case of Secured Loan borrower pledges the assets against the loan. The lender may claim the assets in case if borrower is unable to pay the loan.