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.
Laon credited in the account on the given time. Really appreciate your efforts.
Mukesh Singh, Delhi
Shubham Singh has been very helpful and informative at each step during the loan process.
Muzammil Ahmed Khan, Noida
Instant processing and response. Mr.Saif was very helpful and responsive each time.
DEEPIKA Lavakumar, Delhi
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.
What are the key features of Business Loans?
What are the benefits of Business Loans?
Fill in the Business Loan Application form, to check your eligibility
Compare various Business loan options, and apply for the best suatable option.
Get an instant e-approval, after successful submission of the application
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.
To apply for a business loan, you need to submit the below documents along with the duly filled application form.
Currently, to avail business loan banks we do not ask for any security. The business loans are offered based on the evaluations of the submitted documents along with the duly filled application.
Yes, you will be eligible for availing a business loan based on the evaluation of the submitted document along with your business plan.
No, it is not mandatory to provide personal details to use an online EMI calculator
You can apply for a business loan to fulfill the below requirements-
In the advent of the Internet, today, most of the banks and lenders offer efficient online services to its customers. With the help of online banking tools, applicants can check their eligibility to avail a business in a fraction of one minute
The minimum loan amount offered is Rs. 5,000 and maximum loan amount can exceed Rs. 2 crore, depending on the requirements.
The maximum age of availing a business loan is up to 65 years.
Interest rate offered by various banks and Financial Services Companies starts from 14.99% onwards.
You can repay the loan amount in minimum 12 months and maximum up to 5 years, depending on the respective bank or Financial Services Company.
No, you are not required to submit any collateral to bank or Financial Services Company.
The foreclosure charges and processing fees varies from bank to bank. Every bank and Financial Services Company has different charges, so you need to check online from their official website.
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