As a business owner, securing a loan can be a vital part of expanding or improving your business. However, it can be challenging to decide which type of loan is best for your business needs. A secured business loan might be the solution to your problem, as it has several benefits that can help your business grow.
Secured business loans are loans for which you pledge assets like property as security against the loan amount. This reduces the risk of the loan, which means that you may get lower interest rates and longer repayment tenures.
Opt for the Flexi Loan facility
One type of secured business loan is the Flexi Loan. Unlike traditional loans with fixed EMI payments, the Flexi Loan offers more flexibility. It allows you to withdraw funds as needed from your sanctioned loan limit and repay the loan when you have additional funds. Additionally, you only pay interest on the amount that you withdraw from the loan account.
Types of Flexi Loans
We offer two types of Flexi Loans: The Flexi Hybrid Loan and the Flexi Term Loan.
The Flexi Hybrid Loan enables you to borrow funds as often as needed from your sanctioned loan amount, and make prepayments at your convenience. During the initial tenure of the loan, you only pay interest-only EMIs.
The Flexi Term Loan does not offer this facility, as it is similar to a regular Term Loan. However, it allows for multiple partial prepayments and withdrawals from the sanctioned loan amount.
Making the decision between these variants depends on your business's needs. If you are looking for a loan that offers reduced EMI burden during the initial tenure and the flexibility of making multiple withdrawals and prepayment at your convenience, the Flexi Hybrid Loan might be best suited for your needs. Our competitive interest rates start at just 9%. Quick approval for amounts going up to Rs. 1.05 crore make this a stress-free solution for gaining essential funds.
In conclusion, secured business loans, such as the Flexi Loan, are excellent options for business owners looking to invest in their businesses' growth. With the added benefits of flexibility and lower interest rates, a secured business loan can be a wise financial investment for any business owner.
