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There are 75 million small businesses and SMEs across the country. It is estimated that this number will cross 105 million by 2024. With progress taking place at this fast pace, business owners increasingly require reliable short-term financing. 

 

This need is being met efficiently for business owners through short-term business loans. Without the hassles and long-term commitments of conventional business loans, these instant short-term loans provide finance quickly and conveniently.

What is a Short-Term Business Loan?

Kickstarting and running a business comes with its own exhaustive list of functions and objectives. But some business requirements are more urgent or short-term than others. Conventional business loans often require a long application and disbursal time, making them unsuited to meet such immediate goals.

 

This is where a short-term business loan comes in. By definition, short-term business loans are customised to meet short-term business plans. They achieve this by offering pre-defined short terms, easy access to funds, and fast processing of loan applications.

Why Get a Short-Term Business Loan?

As a business owner with frequent requirements for immediate financing, short-term finance loans can go a long way in helping you meet your goals. Here is how you can benefit from availing short-term business loan:

1. Cost-Effective Financing

Short-term loans have flexible tenures, allowing you to maintain optimal interest outgo.

2. Improves Cash Flow

Instant short-term loans can help you tap into opportunities that improve cash flow.

3. Help Business Expansion

The short-term loan period flexibility helps fuel expansions without cutting into profits.

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Advantages of Short-term Business Loans

You can enjoy these benefits of a short-term business loan when you choose the right loan product provided by a credible lender. Here are all the features and benefits that make it a popular choice among business owners around the country:

 

1. Quick Approval and Disbursal

2. Minimal Documentation

3. Customised Loans

4. Unsecured Loan

FAQs on Short-Term Business Loans

What are the eligibility criteria and documents requirement for getting a short-term loan for a business?

To be eligible for short-term loans for business, you need to be an Indian citizen between the age of 25 and 65 years. You must be self-employed with a minimum business vintage of 3 years. Also, you must have a Credit score of 685 or above. 

 

You also need to submit some necessary documents, including your KYC documents, documents to prove your business ownership and some financial documents.

Can I apply for short-term business loans online?

Yes, you can easily apply for short-term loans online by visiting the official Bajaj Markets platform.

What are the interest rates for short-term business loans on Bajaj Markets?

Short-term business loan rates start at 12% per annum on Bajaj Markets.

What is the repayment period for a short-term business loan on Bajaj Markets?

On Bajaj Markets, the short-term loan period for repayment ranges between 9 months and 72 months.

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