About Business Loan for Working Capital

A working capital loan allows you to meet fund requirements for the regular operations of your business. These types of loans may be used for the following purposes

  • Purchasing raw materials

  • Making advance payments to suppliers

  • Buying inventory

  • Funding accounts receivables if payments from debtors are delayed

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

Who may need a working capital loan?

Small and medium enterprises (SMEs) often have fund limitations and a working capital loan is useful to meet these needs. Some companies have a seasonal or cyclical business and have no stability in sales during the entire year may opt to avail working capital loans to meet their regular operational expenses.

Cyclical businesses manufacture their products during the off-season. The majority of their revenues come through sales during the peak season. Therefore, during the remaining year, cyclical businesses require funds to ensure the smooth operations of their companies.

Uses of working capital loans

  • Manages sales fluctuations

  • Offers flexibility to take advantage of potential business opportunity

  • Provides a cash cushion

  • Helps to stabilize and boost cash flows

  • Offers the funds needed to fulfill bulk orders

Features and benefits

Business Loan for Working Capital have several features as follows:

  • Higher loan amount of up to INR 30 lakh is available to ensure companies do not face any problems in running their operations due to lack of funds

  • Flexibility in drawdown and repayment provides a smart and convenient way to manage business’ cash flows; interest is levied only on the amount used and this helps to reduce the Equated Monthly Installment by up to 45%

  • Lenders offer competitive and affordable business loan interest rates ensuring you do not have any difficulty in servicing the EMI in a timely manner

  • The eligibility criteria are easy to meet and documents required while applying for the loan are also minimal, which ensures a quick, smooth, and easy approval and disbursal process

  • Financial institutions provide online access to the loan account that enables borrowers to check all details through the portal, making it easier to manage the loans

Several lenders provide pre-approved offers that simplify the procedure. Additionally, pre-approval further reduces the time when borrowers actually need to avail the loan. To check the eligibility and determine the estimated EMI on the borrowed amount of unsecured business loan for working capital, borrowers may use an online business loan calculator. Individuals simply need to input the amount, tenure, and the interest rate to determine the estimated EMI.

Check your eligibility here and get a pre-approved working capital loan today.

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