What is a business loan ? Business loan is a type of unsecured loan in which no mortgage is needed. Business loans are availed by entrepreneurs and industrialists to cover various business costs such as purchasing and repairing machinery and equipment, buying raw materials for en masse demand, upgrading to latest technology in your business, expanding operations and several other reasons. Self-employed professionals, self-employed non-professionals and entities are allowed to access a business loan.
You may have started a business which is in its nascent stage. You might be facing the problem of arranging funding for your new business. That is when your requirement for a small business loan steps in. You might need funds to pay your employees on time, invest in infrastructure and raw materials, increase and service your working capital and so on. Acquiring and securing funding for your business needs often has to be done within a very short span of time. So you need a business loan which will get approved as soon as possible and which is conveniently easy to apply for. Bajaj Finserv Business Loan caters to these business needs and offers several attractive benefits for financing your business .
You can avail Bajaj Finserv Business Loan available on Finserv MARKETS through which you can get a loan amount of up to Rs. 30 Lakhs credited to your account within 24 hours of approval. In order to run and expand your business, increase the competitiveness and profitability of your business in the market, it is essential to select a prudent loan plan like the Bajaj Finserv Business Loan. Finserv MARKETS is an attractive destination to avail the Bajaj Finserv Business Loan plan. This is because Finserv MARKETS ensures a quick and easy online application process and you can avail a variety of customized business loans. The application process guarantees transparency without any charges and minimal paperwork.
Types of Bajaj Finserv Business Loans
- Working Capital Loans-Through a working capital loan, you can ensure a good cash flow without any collateral. This is essential to smoothly run your business without facing any financial obstacles.
- Machinery Loans-Update your machinery according to the latest technology available in the market for mass production through a machinery loan.
- SME and MSME Loans- With SME and MSME Loans, small and medium enterprises can expand their operations and scale to new heights.
- Business Loans for Women-Business loans for women allow female entrepreneurs to cater to their business needs without any hassles. You can read more about Government Loan Schemes for Women.
The Advantages of Availing Bajaj Finserv Business Loan
1. Simple Application Process
The first step in the business loan application process of is to fill out and submit the online application form. Next you need to submit the required documentation. Once your documentation gets verified, your loan will be sanctioned. The whole process hence consists of three easy steps and you get done with the entire process within 24 hours.
2. Collateral Not Required
Bajaj Finserv Business loan is an unsecured loan. Hence, it does not need any mortgage. As no asset needs to be evaluated, the loan approval process is fast. Since you do not need any collateral as security for the loan application, you get done with the loan application procedure quicker.
3. Fast Approval
After submitting your online loan application form, you get to know whether your loan has been approved or not within a matter of a few minutes. When you need finance for your business needs urgently, getting to know your loan application status as soon as possible certainly helps.
4. Minimum Documents Needed
The only mandatory documents which you need for Bajaj Finserv Business Loan available on Finserv MARKETS are basic documents such as business proof, financial documents, KYC documents, and bank account statement along with your passport-size photographs. You do not need an extensive number of documents for your loan application. This means that when you are in urgent need of finance for your business, you will not have to spend your precious time in searching for and collecting varied documents.
5. Simple Eligibility Criteria
There are a few criteria which you need to take care of, before applying for Bajaj Finserv Business Loan. Firstly, your age needs to be between 26 years and 66 years. Secondly, you need at least three years of business vintage. Lastly, you need a good CIBIL score and a credible credit worthiness.
6. Flexi Loan Facility
Bajaj Finserv Business Loan has its customised version as well – Flexi Business Loan. You can choose your maximum amount which you qualify for from the loan limit and within the loan tenor. With this facility, you need not make multiple loan applications and need to pay interest only on the amount you use.
Bajaj Finserv Business loan, available on Finserv MARKETS, is a multi-faceted, wholesome and versatile loan plan. With Bajaj Finserv Business loan, you can save your valuable time when you are in a hurry to finance your business. With their convenient and attractive small business loan plans, you can ensure that your enterprise keeps on growing and scaling to new heights well within your time targets.
Finserv MARKETS, a subsidiary of Bajaj Finserv, is a one-stop digital marketplace that has been created for consumers on the go. It offers 500+ financial and lifestyle products, all at one place. At Finserv MARKETS, we understand that every individual is different. And that’s why we have invested in creating a proposition – Offers You Value. A value proposition that ensures you get offers which are tailor made for you. We also offer an amazing product range and unique set of online offers across Loans, Insurance, Investment, Payments and an exclusive EMI store. Be it in helping you achieve your financial life goals or offering you the latest gadgets, we strive to offer what you are looking for. From simple and fast loan application processes to seamless and hassle-free claim-settlements, from no cost EMIs to 4 hours product delivery, we work towards fulfilling all your personal and financial needs. What’s more! Now enjoy the same benefits in just one click with our Finserv MARKETS App.