It is known that ample funding is required by MSMEs for fuelling output, growth, and profitability. According to a report by India Today - "India's MSME sector forms the life-blood of India's economy; contributing to 30 per cent of India's GDP and 40 per cent of exports."
For easy access to finances, an MSME can avail of Business Loan offered by Bajaj Finance Limited, the lending and investment arm of Bajaj Finserv. This loan is extremely easy to avail and caters to a range of needs. Here's a closer look at what makes this loan variant from Bajaj Finserv an all-rounder.
Large capital made affordable
Ample financing is necessary when one wants to revamp its supply chain and machinery or bring in new equipment. Bajaj Finserv gives access to funding of up to Rs 20 lakh to tend to such needs.
Collateral free financing
In order to run an MSME business successfully, it's vital that one is attuned to market trends. Moreover, one must have the right funding, at the right time, to be able to capitalize on opportunities. Business Loan from Bajaj Finserv offers financing without any collateral. This exempts the customers of the burden of pledging an asset.
Hassle-free unsecured loans
These unsecured business loans are approved in less than 24 hours, comes with easy eligibility criteria and can be applied for with just two documents. These exclusive features make Bajaj Finserv one of the best, fastest and most hassle-free business loan providers.
Flexi Loan facility
Whether it's peak season demand or an unforeseen liquidity crunch, managing one's cash flow is crucial to ensuring that their supply chain doesn't run dry. Business Loan from Bajaj Finserv gives the option of signing up for a Flexi Loan facility that's tailored to address urgent and unexpected financial needs.
A Flexi Loan allows customers to borrow multiple times from their sanctioned amount and incur interest only on the amount withdrawn. Moreover, they can choose to pay interest-only EMIs through the tenor and repay the principal at the end. Thereby, reducing their EMIs by up to 56 per cent.
Existing customers of Bajaj Finserv can avail of a pre-approved offer in just a few clicks and get the funds instantly.
Borrowing at a nominal interest rate
When taking a Business Loan, it's important that one plans for repayment. Business Loans offered by Bajaj Finserv starts at an interest rate of just 18 per cent.
Business Loans form Bajaj Finserv can give businesses the much-needed boost to help one's enterprise-scale to new heights. To apply for a Bajaj Finserv Business Loan in minutes, follow the below steps:
* Apply for the business loan by clicking here
* Fill in the required details, and click Submit
* Our representative will connect with the customer, along with their pre-approved offer
A CIBIL score of 750 is considered healthy to avail of a business loan. The closer the score is to 900; the higher are the chances of getting the loan.
This story is provided by BusinessWire India. ANI will not be responsible in any way for the content of this article.