Update: 07 Aug 2020 14:57 STI
Pune (Maharashtra) [India] Aug 7 (ANI / BusinessWire India): According to an Economic Times report – “The MSME sector is and is considered to be the backbone of the Indian economy. It produces over 6,000 products that are highly sought after in the markets global and employs 40 percent of the country’s workforce.
The national “Make in India” initiative has brought a wealth of opportunities for MSMEs across the country. This requires adequate funding from MSMEs in order to fuel growth and generate lucrative profits. To help these businesses fill their cash flow gaps, Bajaj Finance Limited, the lending and investment arm of Bajaj Finserv, offers business loans up to Rs 20 lakh.
A business loan is a form of unsecured credit designed to cover various expenses in a business. Borrowers do not need to mortgage a residential / commercial asset to benefit from the funds. Read on to find out how this loan meets a range of needs-
Install new machines with a substantial loan amount
Unlike new avenues of financing such as crowdfunding, business loans provide clients with significant capital. Significant funding is needed when you want to reorganize your supply chain and machinery or equipment. Bajaj Finserv provides access to funding of up to Rs 20 lakh to meet these needs.
Meet business needs with unsecured financing
Bajaj Finserv Business Loan offers financing without any collateral. This exempts clients from the burden of pledging an asset. A combination of simple eligibility criteria and minimal documentation results in a quick 24 hour disbursement that helps take advantage of any business opportunities that may arise.
Ensure liquidity with the Flexi credit facility
Bajaj Finserv Business Loan provides the ability to underwrite a Flexi loan facility designed to meet urgent and unforeseen financial needs. A Flexi loan allows customers to borrow multiple times from their sanctioned amount and incur interest only on the amount withdrawn. Additionally, they can choose to pay interest-only IMEs through the term and repay the principal at the end. As a result, reducing their IMEs by up to 56 percent.
Build a profitable expansion plan by borrowing at a sustainable rate
When you take out a business loan, it is important to plan for repayment. The commercial loans offered by Bajaj Finserv start at an interest rate of just 18%. Customers can not only improve their current setup, but also access new markets with the same ease, whether it’s building a warehouse for inventory or securing necessary licenses.
Here’s how to apply for a Bajaj Finserv business loan in minutes:
Online application process –
* Apply for a business loan by clicking here
* Fill in the required information and click Submit
* Our representative will contact the borrower, as well as his pre-approved offer
A CIBIL score of 750 is considered healthy to qualify for a business loan. The closer the score is to 900; the higher the chances of getting the loan.
Bajaj Finserv business loans can give businesses the much-needed boost to help them reach new heights. Customers can check if they have a pre-approved offer before applying for the loan.
This story is provided by BusinessWire India. ANI will not be responsible for the content of this article in any way. (ANI / BusinessWire India)