PUNE, India, June 26, 2020 /PRNewswire/ -- According to a report by the Economic Times - 'The MSME sector is and regarded as the backbone of the Indian economy. It churns out over 6000 products which are highly sought after across the global marketplaces. It employs 40% of the country's workforce, next only to the agricultural sector'.
Whether one belongs to the manufacturing sector or renders services, ample funding is crucial for MSMEs to sustain operations and make a profit. One option is to take a Business Loan from Bajaj Finance, the lending and investment arm of Bajaj Finserv. Among the different sources of financing available, a Business loan is a good option as it offers loan of up to Rs. 20 lakh at a speedy disbursal of under 24 hours.
To understand its benefits in detail, read on to know how one can utilize a Business Loan from Bajaj Finserv:
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 various business needs with hassle-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Flexi Loan allows customers to borrow multiple times from their sanctioned amount and incur interest only on the amount withdrawn.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%.
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%. 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.
These customized loans given 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.
About Bajaj Finance Limited
Bajaj Finance Limited, the lending company of Bajaj Finserv group, is one of the most diversified NBFCs in the Indian market catering to more than 40 million customers across the country. Headquartered in Pune, the company's product offering includes Consumer Durable Loans, Lifestyle Finance, Lifecare Finance, Digital Product Finance, Personal Loans, Loan against Property, Small Business Loans, Home loans, Credit Cards, Two-wheeler and Three-wheeler Loans, Commercial lending/SME Loans, Loan against Securities and Rural Finance which includes Gold Loans and Vehicle Refinancing Loans along with Fixed Deposits. Bajaj Finance Limited prides itself on holding the highest credit rating of FAAA/Stable for any NBFC in the country today. It is also the only NBFC in India with the international 'BBB' with stable outlook for long-term, by S&P Global Rating.
To know more, please visit: https://www.bajajfinserv.in