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A working capital loan is a credit facility that helps with short-term funding to cover everyday business expenses and manage cash flow, particularly for SME/MSMEs, seasonal businesses and manufacturers. This facility helps businesses address immediate financial needs, like covering operational costs or managing seasonal fluctuations.

 

The day-to-day operations can include:

  • Purchase raw materials

  • Make advance payments to suppliers

  • Buy inventory/ raw materials

  • Fund accounts receivable if payments from debtors are delayed

  • Meet overhead expenses such as salaries, utility bills, and rent

Features and Benefits of a Working Capital Loan

Here are some benefits that will work in the favour of your business if you decide to go for a working capital loan.

No Collateral Requirement

You can get a working capital loan without pledging any collateral

Maximum Loan Amount

On Bajaj Markets, you can get up to ₹50 Lakhs without any collateral. The substantial sum allows you to cover various expenses, including payroll, inventory, leasing, machinery, storage, fleet, and m Read Moreore. Read Less

Quick Application and Approval

Enjoy a convenient and speedy application and approval process by sharing basic information. After the approval, you will get the funds within a few hours or days.

Flexible Withdrawals

With the flexi facility, you can have funds readily available to cover any unexpected or overhead costs. Moreover, you pay interest only on the withdrawn amount, not the total loan amount.

Minimal Documentation

You need to submit only the basic documents to get quick approval. All you need to do is meet the eligibility criteria to qualify for the loan.

Working Capital Loan Eligibility Criteria

While the exact criteria depend on the lender, there are some common requirements, such as:

  • The applicant should be at least 25 years old

  • The business vintage should be at least 3 years

  • Must have a credit score of 685 or above 

  • Must have business ownership proof and other required financial documents 

  • Must have no history of defaults

  • Trusts, NGOs, and MSMEs cannot apply

 

You may need to provide additional information for business verification purposes, such as audited P/L reports or Income Tax Returns. So, be sure to check the requirements before applying for a seamless experience. 

Documents Required for a Working Capital Loan

Checking this list can help you ensure that you have everything you need. Here are some documents required for a working capital loan by most lenders:

  • Passport-size photographs

  • KYC documents

  • Relevant financial documents/P&L statements

  • Proof of business operations and vintage

  • Latest bank account statements going back at least one year

 

Remember, the lender may ask for additional documents before or after you submit the application. Ensure you submit all of them to get the funding you need. On Bajaj Markets, you can get a working capital loan without submitting a collateral. This allows you to meet your operational needs affordably. 

Working Capital Loan Interest Rate

The interest rate levied on a working capital loan is determined by several factors, such as: 

  • Type of business

  • Business vintage

  • Business revenue

  • Credit score

 

On Bajaj Markets, you can get an interest rate starting at 9.75% p.a. Use the free EMI calculator to decide on the loan terms based on your eligibility and repayment comfort. 

Working Capital Loan EMI Calculator

Loan Amount
Tenure
Months
Rate of Interest
Business Loan
Your Monthly Business Loan EMI
Principal Amount
Total Interest
Total Amount Payable
Amortization Schedule
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Year EMI Principal Interest Balance

How to Calculate the EMI of a Working Capital Loan

Let’s assume that you have a working capital loan of ₹5 Lakhs at 9.75% p.a. for a tenure of 3 years (36 months). 

 

In this case, you will end up paying a total of ₹5,78,699 to the lender. Of this, ₹78,699 (13.6% of the total amount) will be the total interest paid.

Principal Borrowed

₹5,00,000

Interest Rate

9.75% p.a.

Loan tenure

3 years (36 months)

EMI

₹16,075

Total Amount Paid

₹5,78,699

Total Interest Paid

₹78,699 

Disclaimer: This calculation is for information purposes only; the actual values may differ as per the policies of the lender.

 

Calculating the EMI manually can be tiring, and you may even end up miscalculating due to an inadvertent error. Instead, use the business loan EMI calculator on Bajaj Markets as many times as you want to try different tenures. 

 

You can use it to calculate your working capital loan EMI and the total amount that you will be paying as interest to your lender. The calculator is easy to use and has an intuitive interface. What’s more, it helps you plan your repayment hassle-free and make smarter decisions. 

How to Apply for Working Capital Loans on Bajaj Markets

You can apply for a working capital loan online by following these steps.

  • Click on ‘CHECK OFFER’ on this page

  • Fill in the digital form with your business details and proceed further

  • Enter the loan amount and select a suitable tenure

  • Submit KYC documents, such as your Aadhaar card, PAN card, voter’s ID, etc.

  • The representative will get in touch with you for further steps

Working Capital Loan

Disclaimer

Reference of all T&C necessarily refers to the terms of the Partners as regards to pre-approved offers and loan processing time amongst other conditions.

FAQs on Working Capital Loans

How much working capital finance can one get? On what basis is the quantum decided?

You can get up to ₹50 Lakhs as a working capital loan through Bajaj Markets. The quantum of financing is decided based on the health of the business, revenue, and relationship with the lending partner.

What is an example of a working capital loan?

Acquiring financing for letter of credit, cash credit, overdraft facility, and invoice financing are some examples of a working capital loan. You can opt for any of these types of loans as per your business requirements.

What is the reason for taking a working capital loan?

These loans allow you to cover everyday operations and financial requirements. You can take a working capital loan to pay bills, vendors, rent for your office/warehouse/factory/store or to buy materials, and more.

What is the limit for a working capital loan?

The limit is usually up to ₹50 Lakhs. However, it also depends on the lender you choose and the working capital loan eligibility criteria set by them. Creditworthiness, business vintage, and finances are some factors affecting the maximum loan amount you can get.

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