Manage your wealth and assets to take your business to the next level with Bajaj Finserv business loan at affordable interest rates and flexible tenure.
ICICI bank was incorporated in 1994 focusing on providing financial assistance to both medium and large scale business organizations.
Vijaya bank was incorporated in October 1931 offers a diversified range of financial products and services tailored according to individual’s need and preferences.
Growth of any business, it doesn’t matter that it is big or small, depends on various factors, among which the lifeline of any business is the smooth flow of liquid funds. But, in today’s competitive world, it is not easy to give wings to the business or to bring it to next level such as marketing cost, production cost, and so on.
For this, you need enough working capital for fulfilling the requirements of a business. The deficiency of the inflow of sources can seriously interrupt the day-to-day operations of any business. In such circumstances, business loans can come handy as they provide much needed financial support to the borrower so that they can grow and face the competition in the chosen markets.
An unsecured business loan is the safest and the best funding option. In the market a host of the banks and Non-Banking financial institutes are present which offer business loan to salaried and self-employed individuals, professionals, firms. Hence it’s become more important to research the best lender which suits your requirement and which one is pocket friendly to you.
Lesser Risk Involve: In an unsecured business loan the risk profile is very low for the borrowers. As, unsecured business loan is a collateral free loan, which means the borrower do not need to put any of his assets or security for availing the loan. Hence, it gives you the feeling of being secured as your assets are out of any kind of risk.
Flexible Repayment Option: Unsecured business loans come with flexible repayment option. The loan tenure of a business loan ranges from 6 months to 3 years. One can opt for any tenure according to his or her convenience like on a daily, weekly, or monthly basis. The flexibility of repayment gives the borrower a better opportunity to repay the whenever it is convenient for him.
Unrestricted Financing: Unsecured business loan is a multipurpose loan such as personal loan, which can be used for any purpose associated with the business. The borrowers need not to specify the reason of availing loan to the lender he or she can use the loan for various purpose like for fueling the working capital, purchasing assets, paying employees, paying utility bills, expanding business, marketing and promotion and other things which are related to the business. .
Short-Term Option: Business loan is a short term loan, with this one can easily meets his or her business requirements to fill a short-term financial gaps. In addition, there are flexible loan options depending on the size of the business like 100% disbursement, 70% payout etc. with business loan one can expand his or her business and make position in the business world.
Affordable Interest Rates: The interest rate on business loans depends on various factors such as the loan tenure, market dynamics, business plan, the financial condition of the business and more. The rate on loan varies from lender to lender.
With the increase in the number of business loan, there is also a variation in the eligibility criteria of the lenders. But the basic criteria remain the same which is given below-