1. Financial institutions
One of the best ways to meet your business expenses is to apply for a business loan. All you have to do is meet simple eligibility criteria and submit the required documents. If your business is 3 years old and you have a credit score of 685, you can apply for a business loan from Bajaj Finserv and get up to Rs. 50 Lakh to meet your business' expenses.
2. Angel investors and venture capitalists
Equity capital is another type of business financing. If you are a start-up or a new firm, you might not have adequate business vintage to qualify for a loan. In this event, you can reach out to angel investors and venture capitalists for financial aid. These investors offer funding in return for equity and profits.
3. Accounts receivable or invoice financing
You may not be able to fund business expenses like purchasing raw materials or staff's salaries if your accounts receivables are unpaid. If this is the case, you can opt for invoice financing and use unpaid invoices as collateral to get funds. Leading financial institutions offer an invoice financing loan to help businesses address a liquidity crunch.
4. Inventory financing
Inventory financing is a secured loan where a company pledges its inventory as collateral. This credit option is suitable for small businesses that don't have access to other financial solutions.
5. Business credit cards
This is one of the most convenient sources of business finance for urgent needs. It is an unsecured credit facility that doesn't require any assets to be pledged.
There are various other sources of business finance too, like peer-to-peer lending, crowdfunding, and others.
Frequently asked questions
If you need finance for your business, look no further than the Bajaj Finserv Business Loan. You can get a high loan sanction going up to Rs. 55 lakh with only minimal documentation, and repay it over a long tenure of up to 8 years. Our nominal business loan interest rate makes the loan even more affordable.
You can apply for this loan online by clicking on the ‘Apply’ button at the top of this page. You will be taken to our online application form. Fill it out with the required details and get your business loan offer instantly.
There are no limitations to the usage of business finance. You can use it to manage any and all expenses related to your business. These may include:
- Maintaining working capital
- Buying stock for inventory
- Transportation and logistics
- Rent and other overhead costs
- Operations costs
- Purchasing or upgrading machinery and equipment
- Expanding to a new location