Do you have ideas to take your business to the next level of excellence but facing a cash crunch? You are not alone! Many business owners like you have a shortage of funds to expand their businesses despite having the idea to do that.
The leading lenders in India understand the dilemma of business owners and offer a quick business loan of up to Rs.30 lakh to fund multiple needs of a business. It can help you cover all the needs of your business and expand it easily.
Nowadays, you can also apply for an online business loan on an online loan app of a lender. You can easily pay EMIs, prepay or foreclose the loan, and do more.
Hence, applying for a business loan and managing it over an easy loan app can help you track your loan progress right on your smartphone and at any time.
For what purposes you can use business loan money?
A business loan can be used for serving multiple purposes of enterprises such as:
- Keep a healthy business cash flow.
- Lease or buy bigger office premises.
- Office renovations.
- Purchase or lease machinery and equipment.
- Upgrade to new technology.
- Stock up inventory.
- Hire employees.
- Buy raw materials for bulk orders.
- Expand to another area in a town or a new city altogether.
- Scale up operations by taking up lucrative projects and do more.
Business loan eligibility criteria-
The following are the eligibility criteria for a business loan:
- Your age should be between 25-55 years.
- Your existing business should have a history or vintage of at least 3 years.
- Your business must have filed its Income Tax Report (ITR) for the last 1 year.
Business loan benefits-
Here are some exclusive advantages that you can avail by applying for a business loan such as:
- Higher loan amount- You can avail up to Rs.30 lakh as loan amount, which will help you fulfill the diverse needs of your business to take it on the next level.
- Hassle-free unsecured loan facility- The business loan is an unsecured loan facility for which you do not need to keep collateral or security. As a result, you can match with the lender’s eligibility and get loan approval within 24 hours and money into your bank account within 72 hours.
- Flexi loan facility- You don’t have to pay EMI for the loan based on entire loan credit. You can pay only the interest as EMI on the utilized loan amount out of the loan credit. The rest of the money gets adjusted after the end of the loan tenor. This way, you can also save up to 45.0% on your overall loan EMI payment.
- Online account access- You can access the digital customer portal of your lenders to track the loan’s progress. You can also download your lender’s online loan app on your mobile phone to monitor the loan, pay EMIs, check out pre-approved offers, and do more.
A business loan is the go-to funding facility to help your business shine brighter. If you are ready for it, you can apply via one of the loan apps in India, which suits you the most. Bajaj Finserv presents pre-approved offers on business loans, home loans, personal loans, EMI finance, and beyond. It can help you simplify loan procedures to make it less time-consuming.