Business Loan for Traders

Trade includes import and export to and from a specific region. In India, trade and related activities accounted for roughly 49% of India’s GDP in 2017. Traders play a huge role in the Indian economy and are a bridge between customers and manufacturers. 

Trade includes import and export to and from a specific region. In India, trade and related activities accounted for roughly 49% of India’s GDP in 2017. Traders play a huge role in the Indian economy and are a bridge between customers and manufacturers.

Need for Business Loan for Traders

In order to boost their trade business, Indian traders can benefit from business loans specifically designed to cater to their needs. Business loans for traders can help in a variety of arenas, including but not limited to:

  • They can contribute towards boosting working capital

  • Business loans for trade can help upgrade your infrastructure

  • Such loans can empower you to implement state-of-the-art technology

  • Business loans for traders can expand inventory

To help fund your trade business for any of the aforementioned reasons, you can opt for a loan for a trading business. On Finserv MARKETS, you can avail of a Business Loan for Traders with funding up to ₹30 lakhs and other with great features.

Features and Benefits of Loan for Trading Business

Business loans for traders come with a slew of salient features and benefits. Here are some of these features of a trade loan:

  1. High loan amount: Opening a new trade business or expanding your current one won’t come cheap. To account for all the various expenses, one would need a high loan amount that meets all possible needs and requirements. A business loan for traders does just that. For instance, on Finserv MARKETS, you can avail of loan amounts as high as Rs. 30 Lakhs to kickstart your business expansion.

  2. Flexible Loan Repayment: Business loans for trade take into consideration the unique financial needs of each trade business. On account of this, trade loans offer businesses the chance to set their own pace, when it comes to repayment of the business loan. The Business Loan on Finserv MARKETS allows one to choose between a repayment tenure of 12 to 60 months, as per your financial convenience.

  3. Collateral-free loans for traders: Certain business loans would require that you put up collateral, i.e. pledge certain assets of yours in order to qualify for a trade loan. However, the business loans on Finserv MARKETS are collateral-free. As a result, the sanctioning and disbursal of these loans are much faster.

  4. Ease of accessibility: The dawn of the internet has facilitated lending in a number of ways. You can now compare the various business loans for traders online and pick the option most suitable to you and your business needs. You can apply online from the comfort of your own home or office and have your loan application processed rapidly. What’s more, you can now even track your credit limits, upcoming repayments and applicable fees and charges on the lending institutions’ customers portals and apps.

  5. Pre-Approved Offers: Lending institutions offer exciting and personalised pre-approved offers to customers. And on online platforms like Finserv MARKETS also, you can get access to exclusive pre-approved loan offers.

Eligibility Criteria for Trade Loan

Now that you are acquainted with the perks of a business loan for traders, the next step is to check if you meet the requisite eligibility criteria of the lending institution. The eligibility criteria for business loans on Finserv MARKETS is broad and inclusive. You simply need to meet the following requirements:

  • You are self-employed and an Indian resident

  • You are between 26-66 years of age

  • You should have a business vintage of a minimum of 3 years

Documents Required for Trade Loan

You can avail of a trade loan with minimal documentation. You simply need to submit the following documents:

  • Identity proof: Valid identity proof like Aadhaar card, PAN card, Voter ID card, driving license, or passport would be required while applying for a loan for trading business.

  • Address proof: When applying for a trade loan, you need to submit your address proof. Documents like your electricity bill, passport, ration card, lease agreement, or trade license certificate can be used as your address proof.

  • Financial documents: You would need to submit the following documents to qualify for a collateral-free loan for traders:

(i) Statement of bank account for the past 3 months

(ii) ITR for a minimum of 1 year

How to Apply for a Business Loan for Trading

If you are looking to expand your business, you can do so online on Finserv MARKETS with relative ease. You can avail of customized business loans to suit your trade business needs. This process application process is simple, straightforward and can be completed by following all of 4 steps:

  • Step 1: Simply fill in the business loan online application form available on the Finserv MARKETS website

  • Step 2: Select the loan amount and repayment tenure of your choice.

  • Step 3: Upload the scanned copy of your relevant documents

  • Step 4: After approval and verification of your documents, the loan amount will be credited in your account within 24 hours!

A business loan for traders can come in handy in a number of ways and can make a significant difference to your trade business. To boost your trade business, you can begin proactively preparing your loan application and apply for the Bajaj Finserv Business Loan on Finserv MARKETS.

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