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Small Business

Take advantage of longer terms by choosing a collateral-secured loan for your business.

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Get More Funding Today with a Secured Loan

Secured loans, or collateral-based business loans, are financial agreements where your business obtains a lump sum of money. In exchange, you'll repay the money you borrowed over a predetermined period and with interest. Secured loans also require collateral in assets like equipment, inventory, cash or investments. Failure to honor the repayment agreement may result in the forfeiture of your asset.

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Secured Business Loan Details

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Loan Terms

Up to 7 Years

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Fixed Rate

Easy Budgeting

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Loan Amount

Up to $250,000

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Put Your Assets To Work For You – And Your Business

Getting enough capital to build your business can seem like a difficult task these days. That’s why we make getting loans easy. Secured loans can be a good option for small business owners who need larger financing amounts, but their credit score or other factors may be an issue.

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asset vectorAssets You Can Use As Collateral To Secure Business Capital

  • Equipment or vehicles
  • Inventory
  • Accounts Receivable Client invoices
  • Cash
  • Investments

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Secured vs Unsecured Loans: Which One’s Right for You?

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Secured Loans

Secured loans, also called collateralized loans, can be ideal for businesses who:


  • Need low-cost capital
  • Need a larger or longer-term funding option
  • Need to make a large purchase
  • Plan to expand, merge, or acquire a business

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Unsecured Loans

Unsecured loans that require no collateral can be ideal for businesses who:


  • Have good credit or who otherwise meet the lender requirements
  • Have no eligible collateral
  • Don’t want to pledge their property as collateral on a loan

illinois and missouri with location marker on itEligibility Requirements

  • The business must be located in or headquartered in Illinois, Missouri, Indiana, Wisconsin, or Iowa.
  • The company must be registered with the Secretary of State in good standing. However, this is not required for sole proprietors.
  • No minimum amount of time required to be in business.
  • Financing amount must be under $250,000.

Looking for financing over $250,000?

Our commercial team is ready to find the financing solution for you.

Commercial Lending Options


Why Partner With Us? 

Midland States Bank is a team of experienced financial professionals offering competitive small business loans and insightful guidance. Our rates, terms and consultation services make us the ideal partner for small businesses and startups. We’re detailed and transparent through every step of the financing process so you can experience a smooth and quick transaction.

You Have Questions, We Have Answers

A secured loan requires a business or personal asset as collateral in case of a default.

There are various reasons to pursue a secured small business loan, including:

  • Starting a new business
  • Expanding with more staff or a new building
  • Consolidating business debt
  • Upgrading your equipment
  • Restocking your inventory

These loans include benefits like:

  • Covering costs with fast cash
  • Enjoy competitive interest rates and low monthly payments
  • Repay expenses over a manageable term
  • A quick application process with speedy loan payouts
  • Longer repayment terms
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Ready to talk to a loan specialist?

Whether you’ve been running a business for years or just starting out, we’re here to help by phone or in-person. Or complete the form below and a Midland States Bank representative will be in touch to understand more about your story and connect you with financing options.

1-855-696-4352, Select Option 5

Schedule Appointment

All lending products are subject to application and credit approval..

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