SMEs are crucial for the country's economic growth given the fact that small and medium enterprises contribute to over 45 per cent of India's total manufacturing output and 40 per cent to total exports.
In fact, SMEs are not only integral to India's growing digital commerce industry, but their contribution to the total GDP is also set to soar.
As you can see, there is no shortage of growth opportunities for your firm. However, owing to a lack of technological prowess, scarcity of skilled workforce, and a shortage of working capital, your business may struggle to stand out from the competition, deliver the expected outcome or evolve to meet demand. But, the right funding can help you tackle all that stands in your way and push your business back onto the growth path.
Today, June 27, 2019, is observed as SME Day making it the right time to provide your business with the finances it needs to flourish. Bajaj Finserv through its lending arm Bajaj Finance Limited - India's most diversified NBFC, offers SME Loan which is the perfect solution to ensure that your business not only gets the required financial support but also the one it deserves.
Here's how an SME Loan from Bajaj Finserv would prove to be the smartest financing option for your business:
High loan amount to meet all business needs
From equipment purchase to working capital, from funds needed to diversify into a complementary business to capital needed for essential human resources, you can use the substantial sanction from Bajaj Finserv's SME Loan to your advantage. With up to Rs 30 lakhs at your disposal without any need to pledge collateral, you are in the driver's seat to pursue expansion and growth.
Customised offerings to suit all SMEs
Whether you are a manufacturer or trader, in the services industry or in the logistics business, Bajaj Finserv has an SME Loan customised for you. This makes it easy for you to meet the eligibility criteria and apply hassle-free. Since these loans don't come with any restriction on usage, you can use them for diverse purposes, be it leasing delivery vans, renovating your office, or starting digital sales. You can also enjoy tailored business loans like the working capital loan or machinery loan to meet specific needs.
Flexible finance for seasonal businesses
When running a business, be it seasonal or evergreen, you may experience delays in receiving payments from clients while having to pay your vendors and suppliers on time. This can deplete your working capital and cause unnecessary hiccups. Further, a sudden machinery failure or a large order for which you need to purchase inventory may require you to arrange for fast finance. In such times of unpredictable needs, you can rely on the Flexi facility of the SME Loan.
A unique offering by Bajaj Finserv, allows you to easily attend to all business needs as and when they arise. Here you can withdraw from your sanction in parts, multiple times, and pay interest only on what you actually withdraw. Added to this, you can choose to repay what you borrow as interest-only EMIs and pay the principal only at the end of the tenor. This helps save up to 45 per cent on EMIs, which allows you to manage your cash flow easily.
Easy application, quick processing and online monitoring
You just need 2 documents to apply for this loan and this is it a specialised loan for SMEs, you can qualify for it easily. Once you apply via an online business loan application form, you will get a quick approval online with funds disbursed in just 24 hours to address urgent business expenses. Finally, you can count on doorstep document pick-up for added convenience and even monitor every aspect of the loan via your online account.
Keeping these lucrative features in mind, check your pre-approved SME Loan offer from Bajaj Finserv. This will get you instant approval on a deal customised for you, so you can enhance your SME's productivity and boost your revenue hassle-free.
This story is provided by BusinessWire India. ANI will not be responsible in any way for the content of this article.
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)