What is a business loan?

Planning to start a new business or even grow an existing business can be a herculean task as you need an enormous amount of capital. Most of this capital that businessman need are procured through business loans which may be secured or unsecured. A business loan is generally a debt your company borrows and which you will repay according to our lending terms and conditions.

Types of business loans.

Business loans are of various types. Bank loans, SBA loans , mezzanine finance, asset based loans, invoice finance, micro lenders and online lenders. Our Business loans can be both secured and unsecured. Secured business loans will involve collateral which may be a part of the company, stock or an asset.
Unsecured business loans do not have collateral but we will be entitled to an asset if the debt is not payed.

Eligibility

We provide loans to single ownership firms, partnership firms, small time traders, retailers and manufacturers, self employed individuals, private limited companies and proprietors. Your business should have a turnover of at least 50 lakhs. The individual or business should have minimum 3 years of the particular business experience. The business should be in profit making for the past 2 years. The individual applying should be a Minimum of 25 years and should not be more than 65 years during bond maturity. You should have a good credit score in past sorry history. The documents required are identity proof, residence proof, pan card referring to the company, CA certified ITR , balance sheet and profits of the past two years, bank statement and other documents referring to partnership etc.

Terms of payment

No loan is given out for free as interest rates are always charged. Unsecured loan will attract a higher interest rate than secured loans. Fixed interest rate will be charged and tenure of the loan will be decided according to your credit grade which may be in months or years. We will be entitled to part ownership of the firm if you are unable to pay the loan in the given period of time.

Benefits of business loan

Our Business loans will give your company a high chance of success. A huge amount of investment isn’t possible without business loans. The flexibility of our business loans allows you to take care of your business without worrying much about the capital. Also the monthly rate and time of payment are calculated keeping in mind your shortcomings. Our low interest rates allows you to pay the loan easily at the same time allows your company to profit. So if your business is in urgent need of capital, contact us immediately so that we can work with you to expand your business.