MSME/SME Business Loan: Features & Benefits
With low interest rates and flexible repayment terms, business loan or SME loan by Bajaj Finserv can give the much needed boost to your business, enhancing your competitiveness and profitability.
Top features of business loan:
Line of Credit
Business loan allows you to avail ‘line of credit’ facility, also known as ‘flexi line’. Line of Credit is a unique credit facility given to our loan applicants, wherein you are approved for certain limit of credit/ loan, for a said duration. The monthly installment for Line of Credit will consist only of the interest amount and will not have a principal component on a monthly basis. The principal amount of loan is to be repaid at the end of the tenure of the facility. Hence, it acts as a big saving arm to your cash flows.
Loans up to Rs.30 lakh
Whether your business has needs for short-term loans, intermediate-term loans or long-term loans, Bajaj Finserv offers business loans up to Rs.30 lakh. You can use the loan amount to invest in infrastructure, expand operations, buy equipment or inventory, or even to increase working capital.
No collaterals needed
Bajaj Finserv’s business loans don’t require collateral, which means you won’t have to put your personal or business assets on the line to qualify for financing. And since you don’t need to pledge collateral, there is no requirement for appraisal of the value of your assets. As a result, funding will be much faster, require less paperwork and minimal documentation.
These loans from Bajaj Finserv help you get a loan amount that is higher than what you are eligible for. What is more, you have an option to pay the interest component only on the amount you’re borrowing. Because you are only paying the interest, your monthly instalments are lower than they’d be with a standard business loan.
As an existing customer of Bajaj Finserv, you will be eligible to get exclusive pre-approved offers from us. These offers may include a top-up loan or even reduction of rates from time to time.
Online account access
You have the convenience of accessing your business loan statement anytime, from anywhere online.
Advantages for MSME/SME’s
Whether you are expanding into a new vertical or growing your existing business, you can avail of a small business loan for finance. In today’s fluxing economic climate, nearly any enterprise can see immediate growth as long as they use the business loan wisely.
What can MSME/SME use a business Loan for ?
Working capital Business loans are great for businesses that sometimes require loans to meet their daily operations needs until their earnings are adequate to help them become sustainable over time. Applying for a business loan can help your business get off the ground and grow further without faltering for lack of funds. And as your business grows and its assets enable it to earn money, you can repay your business loan.
Business expansion: If your business is turning a profit and has a positive cash flow, chances are that you are probably looking to expand operations and increase your reach. You can apply for a business loan to ensure your firm or enterprise keeps on going strong, and use the loan for leasing a new office space, hiring more workforce, building efficient technological support, procuring raw material, increasing your marketing, etc.
Buying machinery or equipment One good reason to apply for a business loan to buy equipment is that you can use the equipment for its life and later sell it for a salvage value. Make sure you do a cost-benefit analysis before you buy or lease equipment.
Infrastructure: Infrastructure is often the backbone of companies and business owners can use a business loan to acquire delivery infrastructure or processing facilities. Business loans from Bajaj Finserv are also ideal to pay for acquisition of infrastructural facilities.
Inventory turn load: Business loans from Bajaj Finserv can fund your purchase of a large amount of inventory to gear up for your busy season and make sure that there is no lag time between demand and supply.
Available for women entrepreneurs Business loans can cater to the financial needs of women entrepreneurs, giving them funds to create a competitive business. The loan can be a turning point for your business, making a huge difference in your company's cash flow and thus setting it on a path for faster growth.