What is the difference between a secured and unsecured business line of credit?

The difference between a secured and unsecured business line of credit is whether or not you need to put up collateral. A secured line uses your business assets as a guarantee, often leading to lower interest rates and higher limits, but you risk losing those assets if you can't repay. An unsecured line doesn't require collateral, offering faster access to funds, though it usually comes with higher interest rates and stricter approval.