Business Loan at Low Rate Of Interest Quick Approval,
Every business man dreams for their business growth and looks for the new level of development but there are phases when you seek financial advisor to fuel the growth of your business. Business Loans in Ahmedabad, Surat, Baroda thus helps you in providing funds to small, medium and large enterprises at attractive and competitive interest rates, borrow capital without pledging any of your assets and get access to credit that can be repaid over a specific period of time.
Businesses requires an adequate amount of capital to fund start-up, or if u need funding to expand your existing business, buy machinery or boost production, companies take out business loans to gain the financial assistance so that they don’t lose any business opportunity that comes their way in a stiff competitive environment.
Benefits of differnet business loan:
Secured Business Loans
You get a chance to borrow more money with a secured business loan depending on the amount of equity available in the property you are securing the loan against
The time period to repay the loan amount is long as compared to unsecured loan usually around 3-5 years
It is very ideal for the new businesses where the cash flow is a challenge as the interest rate in secured business loan is low.
Unsecured Business Loans
If you are looking for a small borrowing without risking your property that unsecured business loan is ideal for you
It has a flexible repayment time period… longer the time period less interest rate you have to pay.
As you can lend small loan amount it is easier for the businesses to repay the loan amount on time.
It takes very less time for the unsecured business loan to get approved with fewer process and legal headaches
Business Loans Types:
Term Loans – With tenure of 2-10 years, a term loan is a type of loan provided for acquisition of long term fixed assets like machinery, building and land. Term loans have a fixed repayment schedule but its interest rate is either fixed or floating.
Assets financed by term loan:
Land and building, building construction, infrastructure creation, renovation, purchase of equipment, machinery, vehicles.
Loan Against Property – The funds raised by the business by giving residential, office or vacant land as collateral security to the bank for any purpose including advertising, research, business expansion, staff salary and many more. The normal tenure for the repayment of loan is 3-15 years based on the borrower profile.
Gold Loans – Easiest way to lend money against gold jewellery or coin or ornaments for any purpose with the repayment time period of 12-30 months. According to a policy you cannot lend gold loan more than 20 lakhs per person
Loans against shares or financial Securities- The funds raised by pledging shares or financial securities is term as loans against shares or financial securities which requires renewal every12 months
Assets used for raising loan against shares and financial securities:
Bank approved demat shares, mutual fund units, fixed maturity plans exchange traded funds, insurance policies and savings bonds
Cash credit Facility – Cash credit facility are loans granted in the form of overdrafts on the security of stock in trade /process /raw materials. Cash credit facilities are usually secured by pledging current assets of the organization like inventory or receivables. Cash credit limits are based on drawing power which is arrived at after deduction of margin fixed by the bank over the stocks. It is ensured that the balance outstanding does not exceed the drawing power. Cash credit facility is ideal for financing working capital – inventory and receivables. It requires renewal every 12 months.
Letter of credit- A letter of credit is a type of credit facility used in international and domestic trade transactions wherein the bank guarantees that the payment will be received where the buyer and seller may not know each other and are operating in different countries. In the event that the buyer is unable to make payment on the purchase, the bank will cover the outstanding amount and the tenure has to be renewed every 12 month.
How to Apply:
Business loans can easily be applied online by just filling an application form according to your needs and requirement and wait till the lender approves and consider you to be eligible for the loan.
Not only banks but many finance corporation like Future Finance, Inox Capitals provides you easy busiiness loan Services for the growth of your business at low interest rate.
Contact us on +91 72260-07800 or fill our form for your requirments.