Running a business is never an easy task. One is bound to face financial hiccups during the process. Whether you are a new generation entrepreneur venturing into a new business or an established businessman planning for a business expansion. Financial institutions offer the business loan to bail you out of the situation of such financial crunch.
Whether its money required for an immediate official expension or it could be the time of recession , when payments don't come on time but the expenditures can't wait. The business loans ease your way through a scary road of financial crisis and open the world of new business heights for you.
But running for business loans from pillar to pillar could be the most tiring job. We at Moneyduniya.com, have tied up with some of the renowned Business Loan providers of India, offering loans at the most competitive interest rates. So, stop moving door to door in search of the cheapest business loans. Just fill our online application form and broadcast your business requirement to these institutions. If you fit into their bill, you will surely get a call from them within 48 hours.
Home loans are subject to market conditions and hence they are constantly revised by the banks. These loans are generally called as adjustable rate home loans as the interest rates vary throughout the entire tenure. Floating rates are beneficial only if the interest rates falls in the future.
For a Secured Business loan, the borrower needs to pledge something as collateral or security against the loan amount taken. Be it raw material or finished products, land or machinery, anything can be kept as collateral in agreement with the lending party. The borrower can also offer cash advance as collateral as it offers more liquidity and the loan can be availed at lower interest rates and flexible repayment options.
In case of unsecured business loans, here is no requirement of any collateral from the borrower. However, while availing an unsecured business loan, the borrower needs to pay a high interest rate. Moreover, the loan amount is taken for a smaller tenure when compared to a secured loan. According to the their tenure, business loans can be further diversified.
Furthermore, drawing the thin line between critical needs and expenses that can be put off till a better financial situation prevails holds the key to prevent one from any financial predicament. Making a single hasty decision without any idea of its impact in your business might prove to be detrimental in the long run. Therefore, one must be very clear of his actuals need and necessities for enhancing and improving his business by borrowing the rights loans with a detailed insight of its pros and cons.
Hence, acquiring more capital in order to promote any business or consolidating old debts and credits, beckons the call for Business loans.
The applicant must meet the below eligibility criteria's
1. Min. age: 21 years
2. Max. age: 65 years
3. Minimum income (annual): Rs. 1,50,000
4. Minimum loan amount: Rs. 25,000
5. Maximum loan amount: Rs. 2,00,00,000
6. Min. years of buss. existence: Not Applicable
7. Minimum loan tenure: 1 year
8. Maximum loan tenure: 5 years
sbi business loan
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