If you want to purchase the land to expand your working area banks will believe that your business is successful and needs growing. In this condition banks most likely give the pre-approval to your applications and quickly land the money to you.
When we talk about Equipments, business have a couple of choices. They can purchase the equipments or they can lease it. Business Loan can be a good reason to purchase the equipments or to buy the inventory. To know whether its good to purchase equipments or to lease it a cost-benfit analysis is required.
The money you use to manage day-to-day operations is known as working capital. Usually, the companies that have cyclical sales rely this type of loan to improve their day-to-day operations. Hence, Business Loan for improving working capital is a reasonable idea.
Do not wait any more, talk to us for your company requirements and we'll supply you the ideal company loan choices for you.
For obtaining a Business Loan in Delhi, the individual needs to be conducting a legitimate company with a sustainable income. For borrowers who need a Business Loan to begin a new company, there are a few additional requirements too they will need to fulfill. Different banks have different standards to rate debtor and sanction loans.While approving the loan, following things are checked:
A Business Loan is a type of bank debt that helps you to setup or expand your business. A Business Loan can be a secured or an unsecured one. In a secured Business Loan the borrower has to submit any collateral like property or a valuable asset to the bank so that in the case of any default bank could sell the property and get back its money. In an unsecured Business Loan, the collateral is not required to submit to the bank. The later type is more riskeir to the bank hence the interest rate may be higher in compare to the secured one.
The Business Loan may be many types when it comes to the purpose while expensing the loan amount. A Business Loan can be:
|Term Loan:||A term loan is a Business Loan that is used for aquisition of long-term fixed assets like machines, extra setup for operations, building, land etc. The interest rates for a term loan can be a fixed or a floating type. In a Short-Term-Loan, the loan tanure can be in the range of 3 to 18 months. In a normal term loan the tanure is from 2 years to 10 years.|
|Business Line of Credit:||Business line of credit provide flexibility that normal Business Loan doesn't provide. In business line of credit a certain limit of amount is approved. You can withdraw amount upto the limit and the interest will be paid only on the withdrawn amount.|
|Invoice Financing:||In invoice financing type of Business Loan, the money is borrowed against the money that is due on the customers. So the businessmen don't have to wait until their clients pay the money.|
|Merchant Cash Advance:||A Merchant Cash Advance is a Business Loan or advance on the borrower's credit card sales. This is a good option for the businesses that have the good number of debit card/credit card transactions per month.|
Many banks provide Business Loans ranging from quick Business Loans to small Business Loans in India on different terms and interest rates. Going to each one of them is difficult and time and resource wasting when you can have all the information you need at your tips with BookMyMoney.
BookMyMoney has the most extensive collection of the best Business Loans. All you have to do is inform us about your needs, and we'll assist you in finding a Business Loan which works for your company requirements.
It is essential to do proper research before getting your hands into anything. More so when you're obtaining a Business Loan, then you have to compare your selections. BookMyMoney allows you to compare Business Loans interest rates before you make up your mind for the perfect choice.
Your business requires nearly all of your time, so get all the information about Business Loan at the same place and save your valuable time. Moreover, we’ll not only resolve all your queries but also will help you to get the loan.
By starting a new company to fueling funds into your present one, you might be needing company loans from India for almost any variety of factors.
A. Secured loan: A Secured loan is a loan that's shielded by employing an asset or security of some type. To apply for a secured loan and get it accepted, an applicant must supply a guarantor or security to the creditor.
A. Unsecured loan: An Unsecured loan is a loan in which the creditor is in danger if you happen to become a defaulter. There are almost no risks related to unsecured loans.How Much Business Loan Can You Get?
The Quantity of Business Loan you get depends upon a multitude of factors such as
BookMyMoney has tie-ups with some of the most reputed banks and other financial service providers in the country. When you visit our site, we link you into the very best market players and suppliers of financial services like a Business Loan. BookMyMoney saves your time, energy, and guides you to the best choice you can make while applying for your Business Loan.
The Business Loan duration depends upon Business Loan type. The short term loan tanure can be in the range of 3 to 18 months whereas the regular Business Loan tanure may vary from 5 years to 25 years. The minimum and maximum limit extension may be allowed on a case by case basis, but it is rare.
Normally, Banks disburse the loan amount within 7 working days from the loan application date. Once approved, the borrower gets the money deposited automatically into his account by any electronic means or he may receive a cheque/draft equal to the loan amount.
The loan amount depends on your income and your business history. Higher the revenue of the business greater the loan amount. It is also depends upon credit profile of the business.
|Maximum APR (Annual Percentage Rate)||10.75% - 22%.|
|Fee applicable for BookMyMoney||Rs 0.|
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