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What are the business insurance requirements to apply for a business term loan?

Typically, if the business or guarantor provides an asset as collateral for the loan, the bank will ask that it be named as an additional insured/loss payee on the insurance clause.



These questions and answers are provided for general information only and may not be completely accurate in every situation. The information provided is not legally binding on MutualBank or any of its affiliates or subsidiaries. For assistance with specific questions regarding your account(s), please contact us.


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