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Business Loan

Business Loan

“Look ahead towards a brighter future with Business loan”

A business requires an adequate amount of capital for its expansion. Business loan is an easy way to avail this opportunity. Business owners can obtain it to meet the working capital requirement and take their business to next level. It is a wonderful option available to professionals in various fields. Lenders always evaluate your CIBIL score before approving your loan application. Your CIBIL score determines your creditworthiness and repayment capacity. If you apply for a business loan with bad credit, it can be difficult to secure the financing you require. To avail business finance with ease, it is important to maintain a good credit score by paying off your bills and outstanding debts on-time. You must always check your CIBIL score before applying for a loan. This will give you a fair idea regarding whether your loan application will be accepted or not.

TYPES OF BUSINESS LOAN:

As per the business needs and requirements, there are various types of Business Loans online. Take a look:

  • Start-up Business Loan - As an aspiring entrepreneur, if you are looking to start your business venture and need financial assistance for it, you can always apply for a Start-up loan. You can also avail this loan; in case you wish to expand the operations of your start-up.
  • Business Loan for Women - With the aim of promoting financial independence among women, Business Loans for Women can help the female entrepreneurs become self-sufficient and enable the growth of their business. Most financial institutions offer Business Loans to women to fund their requirements.
  • Working Capital Loan - With a working capital loan, the self-employed individuals can manage the daily expenditures of the business. This includes managing steady cash-flow, purchase machinery, pay short-term debt. Availing this loan will help you take care of finances associated with day to day operations.
  • MSME Business Loan - MSME stands for Micro, Small, and Medium Enterprises. With the help of MSME loan, you can finance your business requirements like revamping your company’s infrastructure, purchase machinery or raw materials, or expanding your business operations in general.
  • Equipment Machinery Loan - An Equipment Machinery loan can help you with finances related to your business equipment. With this loan, you can purchase new machinery, upgrade the existing ones or even the faulty ones repaired.


FEATURES OF BUSINESS LOAN:

  • One may choose to opt for Business Loan for: expansion, office supplies, inventory or business project etc.
  • Choice of tenure up to 5 years.
  • Rate of Interest (ROI) ranges from 12.99% to 24.00% per annum.
  • No security or collateral needed. 


ELIGIBILITY:

  • Age criteria- 25 years to 60 years.
  • It is available for-
  1. Self-employed Individuals
  2. Institutions
  3. Partnership Firms 
  4. Trusts and Society
  5. Private Sector.
  • It can be availed by-
  1. Professionals with at least 3-5 years of practice in their field.
  2. Business people with at least 3 years of business continuity.