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Now apply for a Business Loan online, All you need to do is provide your details below application form.
About Business Loan
Businesses require an adequate amount of capital to fund startup expenses or pay for expansions. As such, companies take out business loans to gain the financial assistance they need. .
A business loan is debt that the company is obligated to repay according to the loan’s terms and conditions
A business loan is borrowed capital that companies apply toward expenses that they are unable to pay for themselves.
Features of Business Loan
- Loans are not given out for free. Lenders charge interest on loans as the price paid for borrowing the money
- It is important to know whether the interest is fixed or variable
- A fixed interest rate means that the interest rate remains the same for the duration of the loan and its payback period
- A variable interest rate indicates that the interest rate can fluctuate based on a variety of determinants.
- Other features of a loan to pay attention to are the payback period (months or years) and what the lender will use as collateral if the business is unable to pay the loan back timely.
Business Loan – Eligibility
Any self-employed or professional Public and Privat companies, Government sector employees including Public Sector is eligible for a personal loan.
Age
Maximum age of applicant at loan maturity: 60 years
Income
Minimum Net Monthly Income: Rs 20,000
Credit Rating
Applicant should have the bank specified credit score.