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."
Without adequate funds at every step of the way, a business can come to a screeching halt. Whether one belongs to the manufacturing sector or services, ample funding is crucial for MSMEs for fuelling output, growth and profitability. Fortunately, to ensure that customers have easy access to the finances they need, they can turn to Business Loan offered by Bajaj Finance, the lending and investment arm of Bajaj Finserv.
This loan is extremely easy to use and caters to a range of needs. Here's a closer look at what makes this loan variant from Bajaj Finserv an all-rounder.
Install new equipment and machinery with a substantial loan amount
As opposed to newer financing avenues such as crowdfunding, regular business loans assure customers of a large amount of capital. Bajaj Finserv, for instance, gives access to funding of up to Rs 20 lakh, which can be used to tend to all business needs. Ample financing is necessary when one wants to revamp their supply chain by investing in a plant, and machinery or equipment.
Cater to business needs with collateral free financing
In order to run a 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. A combination of simple eligibility criteria and minimal documents, results in a swift 24 hours disbursal that helps one leverage business opportunities that may come their way.
Ensure sufficient liquidity with the 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Flexi Loan allows customers to borrow multiple times from their sanctioned amount and incur interest only on the amount withdrawn.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.
Chalk out a profitable expansion plan by borrowing at a viable 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. Customers can not only enhance their current setup, but also tap into new markets with equal ease, be it securing the necessary licenses, building a warehouse for inventory or establishing a distribution network.
Business Loans by Bajaj Finserv can give businesses the much-needed boost to help one's enterprise scale to new heights. Customers can check if they have a pre-approved offer before they apply for the loan.
This story is provided by BusinessWire India. will not be responsible in any way for the content of this article. (/BusinessWire India)
( With inputs from ANI )