Funding your SME made easy with a Bajaj Finserv business loan
The Indian Small and Medium Enterprises (SME) sector consists of 42.5 million units, employs over 40 per cent of the nation’s workforce and contributes as much as 8 per cent to the nation’s GDP. Also, SMEs contribute to over 45 per cent of India’s total manufacturing output and 40 per cent to the country’s total exports, making them a key determinant of India’s economic landscape.
Despite a favourable place in the economy and having the inherent capacity to grow, your SME may be facing issues like technological obsolescence, sub-optimal operations, fierce competition, supply chain inefficiencies, and a shortage of working capital, amongst others. While these problems can have varying degrees of impact on your business, to combat them and excel you need to adopt new technologies and automation, which is only possible with access to funds.
Recognising these issues and your SME’s potential to grow, financial institutions such as Bajaj Finserv offer targeted loans to bridge any gaps. Here’s everything you should know about Bajaj Finserv‘s Business Loans for SME.
High loan amount
Bajaj Finserv’s Business Loan gives you access to a high sanction of up to Rs 30 lakh. This loan has been created keeping your unique needs in mind so you can use it to fund all your business requirements with ease. Also, an affordable interest rate makes this loan an ideal financial solution for small businesses like yours, as you can avail funds to meet your expenses without having to worry about hefty EMIs. So whether you need funds to pay your staff, purchase inventory or lease equipment, a single Bajaj Finserv Business Loan for SMEs is all you need.
Certain business expenses, such as those pertaining to machinery repairs and software updates, can arise without any intimation. To address this Bajaj Finserv offers a loan with simple eligibility criteria, minimal documentation, and with approval within 24 hours. This means that you can fund all your urgent requirements in no time at all. What’s more, since it is a collateral-free loan you do not have to pledge any asset in order to get a sanction.
Flexi Loan facility
Since business cash flow is subject to a lot of uncertainty, Bajaj Finserv offers flexible withdrawals and repayment options with your loan. By virtue of the Flexi Loan facility, you can withdraw from your total sanction in parts, as and when a need arises, and pays interest only on what you use.
Also, you can choose to pay interest-only EMIs for your multiple withdrawals throughout the tenor and repay the principal only at the end. This way, you can manage your cash flow better by using the principal portion to meet other business expenses in the interim. This can result in savings of up to 50per cent on your EMIs. You can also part-prepay your business loan before the tenor ends at absolutely no extra charge.
Bajaj Finserv gives pre-approved business loan offers by which you can enjoy instant finance. All you have to do is enter a few basic details like your name and phone number. Then, select from the various offers that are customised and created just for you. This way you can use the deal that suits you and makes borrowing finance more convenient.
This story is provided by BusinessWire India. ANI will not be responsible in any way for the content of this article. (ANI)
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