A loan secured with all business assets is very much what it sounds like—you’ve used all of the assets that your business has in order to secure financing.
Generally, however, most lenders won’t require that you put up all of your physical business assets to secure a loan, and therefore, this phrase may be more accurately applied to loans that have been secured by a blanket lien (or even a personal guarantee).
With a blanket lien, you are, in fact, granting a lender the legal authority to claim all of your business’s assets to recoup their losses if you default on the loan.