What are the different types of business loans?
Bajaj Finserv offers various business loans to cater to Indian enterprises and business owners' unique needs. These loans fall under two broad categories, term loans and Flexi loans.
Term loans include both collateral-free business loans as well as secured business loans against property. You can easily apply for term loan online with just a few documents and get quick approval along with attractive interest rates and convenient repayment tenors.
The Flexi loan facility offered by Bajaj Finserv gives business owners the option to pay only interest as EMIs while repaying the principal amount at the end of the tenor. This helps reduce your EMIs up to 45%* compared to traditional term loans and better manage business cash flow. You also have the flexibility to borrow when you need from the sanction and prepay when you have surplus funds. Here, you pay interest only on the amount utilised.
Apart from these categories of business loans, we offer personalised loans to professionals such as loans for businesswomen, chartered accountants and doctors.
Also Read: What is a Business Loan
Bajaj Finserv also offers specific loans such as:
- Working capital loans to help you meet short-term cash flow requirements
- Machinery loans that provide capital for fixed asset needs
- SME and MSME loans to business owners looking to expand operations and increase market reach.
Opting for any of our business loan facilities is simple, quick and hassle-free. Pre-approved offers on business loans further help existing customers get instant funds with easy online verification.
*Conditions apply
Frequently Asked Questions
There are various types of business loans to suit different needs. A business term loan, one of the most common types in India, offers a specific amount with fixed repayments over time. The loan amount depends heavily on the business’ credit history. When applying for a term loan, you must define the purpose of use. Other types include overdrafts, invoice financing, equipment loans, lines of credit, and merchant cash advances. Each serves different purposes, so choose one aligning best with your business needs.
The most common type of small business loan is a term loan. With a term loan, you borrow a fixed amount of money and repay it over a set period, usually with interest. This loan helps cover various business needs, like purchasing equipment, expanding operations, or managing cash flow. Repayment terms and interest rates can vary, so it's essential to compare options and choose what's best for your business.
The two main types of business loans are secured loans and unsecured loans. Secured loans require collateral, such as property or equipment, to secure the loan. They usually offer lower interest rates. Unsecured loans don't require collateral but may have higher interest rates to compensate for the increased risk to the lender. Depending on your business needs and financial situation, you can choose between these options. Remember to carefully consider the terms and conditions of each type before making a decision.
