Business loans

For 1Lac to 75Lac Loans 

Documents

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1. Pan Card

2. Adhar card

3. 6 month bank statement

4. E-bill

5. 1 Recent Photo

6. (2yrs ITR or PAYSLIP)

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A business loan is debt financing that businesses take from financial institutions like banks to fund various needs such as expansion, working capital, or asset purchase, with a commitment to repay the borrowed principal amount plus interest over a set period. Unlike equity, business loans retain ownership, with repayment terms, interest rates, and whether collateral is required all depending on the borrower's creditworthiness and the loan type, such as a term loan for fixed costs or a working capital loan for operational needs. Key Aspects of Business Loans

• Definition:Borrowed money for business purposes that must be repaid, with interest, over an agreed-upon timeframe. 
• Purpose:To finance operations, manage cash flow, purchase assets, expand the business, or cover inventory. 
• Ownership:A loan is debt, so businesses retain full ownership, unlike equity financing. 
• Interest & Repayment:Lenders charge interest on the principal amount, with repayment schedules varying from monthly to weekly. 

Types of Business Loans

• Term Loans:Provide a lump sum of money for a set period with fixed repayment terms. 
• Working Capital Loans:Designed to cover short-term operational needs and daily expenses. 
• Secured Loans:Require the borrower to pledge collateral, such as property or equipment, as security for the loan. 
• Unsecured Loans:Do not require collateral, with terms based solely on the borrower's financial health and creditworthiness. 

How Business Loans Work

1. Application: Businesses apply to a lender, often requiring personal and business documents.
2. Assessment: Lenders evaluate the business's financial records, revenue, and overall financial health.
3. Approval: If approved, the lender offers the loan with specific terms.
4. Repayment: The business repays the principal amount and interest over time according to the agreed-upon schedule. 

Common Uses for Business Loans

• Purchasing new equipment or inventory.
• Expanding operations into new markets or locations.
• Hiring and training staff.
• Managing cash flow during seasonal dips or unexpected expenses.
• Investing in marketing campaigns or new technology.