As an entrepreneur, scaling your operations enables you to achieve new levels of success. Business expansion may be upgrading equipment, starting a new production house or taking up a franchise. Growth offers new opportunities to increase profits and revenue, but it comes at a cost. To fund business expansion conveniently, consider the loan against property, a feature-rich secured loan that allows you to improve your services without having to settle for anything but the best.
Here’s why the Bajaj Finserv Loan Against Property is a great option for business expansion.
Affordable high-value sanction helps you cover all costs
Depending on the property you pledge, the Bajaj Finserv Loan Against Property offers a high sanction of up to Rs. 10.50 Crore* on cost-effective terms, letting you meet business expansion expenses with ease. Whether you want to purchase a lathe machine for your workshop or hire highly skilled staff for research and development, the ample sanction can cover it all. It also means that when you avail a loan against property from Bajaj Finserv, you don’t have to dip into your savings or divert your working capital to bring your project to fruition.
Flexible withdrawal and repayment terms help you make the most of the funds
Business expansion often demands funding one phase at a time. Consider that you want to establish a new production house. You will first need to acquire a workspace, purchase and install equipment and finally hire skilled and semi-skilled staff. You must procure raw material after this and only then start full-fledged production. At each step, you will need adequate funding, which will allow you to fund your business expansion seamlessly.
Additional Read: Use a loan against property to start your business
The Bajaj Finserv Flexi Loan facility can help achieve this in a cost-effective manner. You can withdraw funds on the go as you need. You incur interest only on the amount you withdraw. Repay the loan in interest-only EMIs through the tenor and pay off the principal only in the end. This way, you can fund each phase and manage your cash flow effectively.
Simple eligibility criteria make it easy to qualify for the loan
Sometimes you need to make quick business decisions. However, accommodating a new project to grab opportunities in the market may require you to pump in additional working capital. In such times, having quick access to funding will help you sail through. With Bajaj Finserv, you can qualify for the loan without much effort and make the most of the tailwinds of the market. All you need to do is meet the following simple eligibility criteria:
- Minimum age: 25 years* (18 years for non-financial property owners)
Maximum age: 85 years* (including non-financial property owners)
*Age of the individual applicant/ co-applicant at the time of loan maturity
*Higher age of co-applicant may be considered up to 95 years basis 2nd generation (legal heir) meeting age norms and to be taken as co-applicant on loan structure
- You should be a self-employed applicant earning a regular source of income
- You should be residing in a city mentioned in the approved list
Quick approval and disbursal help you start business expansion without delay
Once you know you are eligible for the loan, you must submit some basic documentation to support your application. Here is the list of documents you will need to produce when applying for the Bajaj Finserv Loan Against Property.
- Bank account statements of the last six months
- Identity proof - PAN card, Aadhaar card
- Address proof - ration card or Aadhaar card
- Copy of the property documents
Checking the eligibility terms and submitting the right documentation paves the way for speedy approvals. With Bajaj Finserv, your loan is approved and the money disbursed in just 72 hours*.
Customised offers and one-step approval help meet requirements quickly
Bajaj Finserv offers customised deals on loans against property that give you access to instant finance through one-step, hassle-free online approvals. Lenders extend a pre-approved offer only after a thorough background check on your creditworthiness and income. This allows you to expand your business and start reaping benefits without delay.
Check your pre-approved offer today. All you have to do is share your name and contact number and login in using the one-time password you receive.
Bajaj Finserv Loan Against Property is an excellent option for business expansion, as you have seen. Apply now and give your business a chance to grow.
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