Get funds for small businesses in just 24 hours with a business loan from Bajaj Finserv
ANI |
Update: Feb 17 2021 15:51 STI
Pune (Maharashtra) [India], Feb. 17 (ANI / BusinessWire India): To help micro, small and medium-sized enterprises (MSMEs) alleviate the stress caused by the foreclosure, the Indian government announced an Emergency Line of Credit Guarantee (ECLGS) program of Rs 3 lakh crore for MSMEs under the Aatmanirbhar Bharat Abhiyan package valid until March 21, 2021.
In addition to this, MSMEs looking for a timely financial stimulus may benefit from a SME loan offered by Bajaj Finserv, through its loan and investment subsidiary Bajaj Finance Limited. This small business loan provides businesses that want to reorganize their operations with the necessary financing in a quick and hassle-free manner.
With funding of up to Rs. 45 lakh offered through a 24 hour approval process via an online application mode, Bajaj Finserv, through this tailor-made business loan, offers hassle-free monetary support.
To learn more about getting this smart business loan for SMEs, read on.
Easy application and quick disbursement
Applicants can apply for a business loan online to avoid physical queues and delays. All they have to do is:
* Completed on business loan form with personal and financial information
* Download the relevant documents
* Receive a business loan approval as well as a loan disbursement within 24 hours, provided their documents and offer are in good standing.
Once Bajaj Finserv completes the necessary eligibility and credit checks, the online business loan will be paid into the applicant’s account, making it the ideal source of funding when there is a need for funds in the event of a financial loss. emergency or for a sudden big project.
As an existing customer of Bajaj Finserv, just submit their name and contact details to check their pre-approved offer and enjoy it instantly online. This speeds up the loan process even more and the money gets transferred to their account faster.
Small business financing up to Rs 45 lakh
In times of slow growth, business owners often look to revamp their business in one way or another. For example, they can invest in marketing to attract a larger customer base, buy the latest software or machines to do more with less, hire skilled talent, promote research, allocate resources prudently, etc.
All of these initiatives require funding, and Bajaj Finserv SME Loan offers business owners up to Rs. 45 lakh, without requiring any collateral. These unsecured business loans allow businesses to pay several overhead costs, purchase machinery, meet their working capital needs, and invest for the future.
Variable duration for easy repayment
To ensure that repayment does not become a burden on the day-to-day operations of the small business, Bajaj Finserv offers long and flexible terms. A business can pay off the small business loan in 12 to 84 months, depending on its capabilities. To facilitate financial planning, business owners can use the EMI calculator online and check the value of the prepayment with the partial prepayment calculator.
Easy eligibility and minimal documentation
Bajaj Finserv approves new business loans under simple eligibility conditions. Depending on their business loan eligibility criteria, a business owner can get a loan if they:
* Between 25 and 65 years old
* Has a business that has been in business for at least 3 years
* Has a credit score of at least 750
* Has filed tax returns for the business for at least 1 year
The straightforward eligibility requirements mean that obtaining a small business loan for new businesses is a hassle-free possibility.
To get the SME loan, business owners only need to submit a minimum set of documents, including:
* Proof of identity
* Proof of address
* Financial documents
* Company property / vintage proof
Flexi credit facility for added value
Business owners who want flexibility with their small business loan can opt for the Flexi loan facility. It allows businesses to borrow and prepay based on their dynamic needs and working capital requirements. One can make multiple withdrawals from the loan, while paying only interest on the amount withdrawn. Partial refunds can be made at no additional cost and it is possible to pay IMEs with interest only during the first part of the term and the principal later.
With smart use of the SME loan, owners can dramatically improve their business’ bottom line and gain a solid foothold in their market. For easy access to the small business loan, apply online.
This story is provided by BusinessWire India. ANI will not be responsible for the content of this article in any way. (ANI / BusinessWire India)
