The foremost priority of any entrepreneur is to see his/her business grow, expand and flourish. To fulfill this desire, business owners opt for business loans and meet their financial requirements. However, getting instant funds is not always possible, as banks and Financial Services Companies take their time in deciding whether to sanction loan or not.
Business loans are majorly availed for purposes like business expansion, purchase of machinery or plant, investment in infrastructure, hiring staff, maintain inventory, etc. Further we have discussed all the relevant aspects of business loan for in-depth understanding.
A business loan is a loan specifically intended for business purposes. As with all loans, it involves the creation of a debt, which will be repaid with added interest. There are a number of different types of business loans, including bank loans, mezzanine financing, asset-based financing, invoice financing, microloans, business cash advances and cash flow loans.
Starting or expanding a business often means applying for and getting approved for a loan or a business line of credit. For years Delhi has been known for its culture of entrepreneurship and business. With the expansion of the city and the rise of new commercial hubs in the NCR region like Gurgaon and Noida, the appetite for business has expanded manifold.
Capital is a vital component for the success of commerce today. Irrespective of whether a firm is in proprietorship or big organization, finance holds the key to its development, and managing finance is certainly not a child's play. Keeping all this in mind, Finway Capital offers Business Loans to help budding and existing entrepreneurs.
Based on its nature, the business loans are categorised into following types:
Finway Capital offer both secured and unsecured business loans based on state and need of the business. There are three types term loans available as follow:
The repayment schedule of term loans can be monthly or quarterly. Based on the term loan secured, the type of interest can be floating or fixed.
A demand loan needs to be repaid based on the demand schedule. Banks and the financial institutions offer both secured and unsecured demand loans. The repayment tenure of demand loans extends up to maximum 12 months.
Such loans are offered based on bank approved financial securities such as insurance policies, mutual funds, demat shares, saving bonds, fixed maturity plans etc. Such loans can be secured to mitigate an immediate financial crisis.
The eligibility for securing business varies based on the profile of the applicants. Based on the type of business the applicant engages, the applicants fall into three broad categories.
The professionals such as company secretaries, architects, doctors, chartered accountants etc. come under this category.
The applicants such as manufactures and traders fall into this category.
Security of the loan would generally be security interest on the property being financed and / or any other collateral / interim security as may be required by Finway Capital.
All the information contained herein above is for awareness and customer convenience and is intended to only act as an indicative guide about Finway Capital's products and services.
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