Business Loans Can Take Your Business To New Heights
It is no secret that every business, especially small businesses and startups, require additional business capital or business loans to help them grow faster. Bajaj Finserv can help you take your small business to the next level with different types of business loans that target specific business requirements. The best part: Bajaj Finserv offers business loans up to Rs. 30 lakh without requiring any collateral or guarantors. This makes it easier for you to apply for a business loan from Bajaj Finserv and leapfrog your small business to the next level, irrespective of whether it is a limited or private limited company, a partnership or proprietorship firm, or an individual practice.
Business capital from such loans can help your business grow and achieve its goals. But before you consider applying for a business loan, you need to have a well-thought-out plan for what to do with the funds you’ll be acquiring.
Here are some ways in which you, as the business owner, can use the additional capital from a business loan to take your small business to the next level:
To Expand Your Office Space
You were short on capital when you launched your business, and had to make do with a one-room office. Now, with more people being recruited to cope with the increasing work load, your tiny office is bursting at the seams! When your company is looking to expand and grow, moving to a bigger office space can take your small business to the next level. The new office will give you the space to think clearly and also provide enough room for recruiting additional talent who will help your business grow. A bigger place also means that you don’t have to ask some employees to work from home on the day clients are coming in for a meeting. However, moving in to a larger, more suitable office space can involve significant costs. A business loan can help you tide over this requirement of capital.
To Purchase New Equipment
Is your manufacturing business growing by leaps and bounds and you are looking to expand your production capacity? Or have you realised that the machinery you have needs significant repairs or needs to be replaced? Not upgrading or expanding can be detrimental to your business growth. But what if you do not have enough business capital to fund these expenses? No worries! You can sail through these tricky situations with a business loan which will provide your business with respite through some additional funds. When applying for a small business loan from Bajaj Finserv, you can opt to spread the repayment over a period of time, and then manage through the additional revenues that the equipment upgrade will generate.
To Acquire Inventory
Inventory is often the largest expense for any business. As your business grows and the sales increase, there may often come a need to stock larger inventory. What is more, your business may need to stock more options depending on the demand of your customers. Not replenishing your inventory can lead to unnecessary business loss. A business loan is an ideal option to avoid this unseemly situation, since it does not put immediate strain on your business finances.
To Fund A New Business Opportunity
How often have you come across a great business opportunity that has the potential to earn you a handsome profit? Whether it is a cash discount on purchase of a larger inventory or a big project that requires the purchase of new equipment, a business loan can help move your small business to the next level. Once the inventory starts selling, or the project is completed and payment received from the client, your business can repay the business loan with ease.
To Ensure Future Credit
When you are looking to convert your small business loan to a larger one, the bank or financial institution you are applying to will check whether your business has a good credit rating. A timely small loan repayment record will help your business create a good credit score. That’s why many businesses, when planning to go for a large loan, often apply for a small business loan as a stepping stone to improve their credit rating.
While there are many banks and financial institutions that offer business loans, Bajaj Finserv offers a hassle free application process with easy documentation. Further, with many loan options we provide the right repayment option for your specific business needs.
Looking to take your small business to the next level? Apply for a collateral-free small business loan from Bajaj Finserv.