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What is a Working Capital Demand Loan?

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What is a Working Capital Demand Loan?

Working capital requirements for businesses can either be planned or arise suddenly. Availability of a suitable financing option can help organisations fulfil their immediate funding needs with ease. A working capital demand loan (WCDL Full Form) is one such financing option that is readily available to fulfil the operating funding needs of a business.

Maintaining optimum working capital is essential to a business’s efficient running. A working capital demand loan is thus available as a flexible financing option that allows businesses to access funds easily during any working capital shortage.

Available as one of the suitable sources of business finance, Bajaj Finserv offers a unique Flexi facility on a working capital loan that enables multiple withdrawals from a pre-sanctioned limit, thus allowing access to funds as and when needed. This feature also allows its classification as a business line of credit with withdrawal and repayment flexibility.

The working capital demand loan suitably fulfils daily and short-term funding requirements of a business. It further comes with a tenor extending up to 84 months for convenient repayment.

Working Capital Demand Loan Interest Rates

Bajaj Finserv offers working capital loan at competitive interest rates to keep the repayments affordable. The other associated charges like processing fee, are also kept nominal for the borrower’s convenience.

Before opting for such a loan, make use of an EMI calculator to compute the monthly instalment amount and plan repayments accordingly.

Alternatives to a Working Capital Demand Loan

There are suitable alternatives to WCDL that offer quick and convenient financing, thereby helping businesses cover their working capital deficits. The funds are available against viable terms like instant approval and disbursal, flexible tenor, etc., that allow businesses to optimise their utility.

Bajaj Finserv offers business loans as a suitable alternative to the WCDL loan to fulfil the working capital funding needs of a business as and when needed. Here’s a quick look at the features and benefits of the advance that make it a suitable option for business funding.

  • Flexi Hybrid feature: The Flexi Loan facility allows businesses to make multiple withdrawals from an amount that is pre-sanctioned, enabling ready access to funds. It also reduces the overall repayment liability as interest is charged only on the withdrawn amount.
  • Financing of up to Rs. 45 lakh: Eligible applicants can avail of high-value, collateral-free financing of up to Rs. 45 lakh at affordable rates.
  • Tenor flexibility: Opt for a suitable tenor of up to 84 months for convenient loan repayment.
  • Quick financing: With minimum eligibility and document requirements, receive approval within a few minutes of application. Receive disbursal within the next 24 hours* only.
  • No end-use restriction: Businesses can also use the funds availed for other financing needs like office renovation, machinery purchase, expansion plans, etc., along with working capital requirements.

How to Take Advantage of a Working Capital Demand Loan?

Businesses can take advantage of a working capital demand loan by putting it to the following possible uses.

1. Manage and improve cash flow
Additional financing sourced through WDCL can be used to manage and improve a business’s cash flow. For instance, additional funds can be used to pay creditors for raw material purchase and increase production or sales.

2. Restock business inventory
A high-value WCDL is also suitable for the restocking of inventory from time to time to ensure seamless support during production, manufacturing or sales of business products.

3. Hire new/seasonal staff
As businesses encounter variation in demand with changing seasons, they also need to hire additional staff to fulfil the production requirements. A WCDL can suitably fulfil the financing necessities in such circumstances.
Working capital funding alternatives for businesses come with varying terms of use. Make sure to select a financing option that provides maximum benefits at competitive rates.

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