Fundamentally, a business loan is a loan that is granted for business purposes. Usually, a business loan is offered to companies and not to individuals and often don’t require any security. The finance company sanctions the loan based on your company meeting the required criteria including a specified Minimum Annual Turnover.

Whether you are self-employed or the owner of a firm, you can apply for business loans at any point. Businesses in the manufacturing, trade, and service sectors are all eligible for business loans. The business entity taking the loan can be a sole proprietorship, a partnership, or private limited company.

You can apply for the loan online and the entire process from application to approval can be completed without you ever needing to visit the lender’s branch or office. The funds are made available within a short period of time, once the loan is approved.

Business Loan Offers – How to Choose

Banks and other financial institutions offer many types of loans for businesses including secured loans against properties and other assets. Business loans without any collateral or security are also provided at competitive interest rates. Carefully sort through the offers before choosing a business loan to apply for. The EMI and the processing fee are factors to be taken into considerations when you choose the company from which to take the loan.

Banks and other financial institutions offer many types of loans for businesses including secured loans against properties and other assets. Business loans without any collateral or security are also provided at competitive interest rates. Carefully sort through the offers before choosing a business loan to apply for. The EMI and the processing fee are factors to be taken into considerations when you choose the company from which to take the loan.

In India, unsecured business loans are offered up to certain limits, beyond which, a collateral is required. Many financial organizations offer business loans of up to 25 or 30 lakhs without collateral. The business loan interest rates and the EMI will depend on the loan amount and the tenure of the loan. Bajaj Finserv provides Business Loans that offer a great deal of flexibility in the repayment process.

Also Read : Things to Consider Before Applying for a Business Loan

Business Loan Benefits

Business loans can now be processed online from start to finish. Apply, and provide the needed documents, and you’ll find that your loan is usually approved quickly. The sanctioned funds are credited to your loan account. With Bajaj Finserv, the whole process is quick and transparent and you can check your account status online through the customer portal provided once the loan is sanctioned.

Business loans require no security, have minimum document requirements, and are processed quickly. For small and medium businesses that can provide proof of good performance, and the required turnover, this is the ideal way to secure funds to invest in the business.

Bajaj Finserv allows prepayment up to 6 times in a calendar year. You can thus pay larger amounts towards the EMI when you have more funds available. You can also foreclose the loan at any time after the payment of the first EMI.

Apply for a business loan today to facilitate the smooth operations without fear of a cash crunch at critical times. A Business Loan from Bajaj Finserv lets you pursue your dreams for your business, with a minimum fuss and a lot of flexibility.

Apply for Business Loan Online Check your Business Loan Eligibility