Business Loan

Every business needs constant capital to ensure expansion and long-term sustainability. However, during a cash crunch, business owners seek external funding. Business loans are credit products that help the entrepreneur to purchase plant and machinery, furniture and fixtures and working capital requirements.

The business loan is a loan product offered to business owners who have a running company but require external funds for operations. The investment cover expenses such as employee salaries, rent, buying equipment, or expanding the business in other cities.

Bankers or NBFCs analyse the business owner’s creditworthiness through factors such as credit score and business turnover.

Types Of Business Loans
No business has a similar capital need as they belong to multiple industries and sectors. Bankers ensure that they effectively cater to the capital needs of every type of business through specialised business loans.

Term Business Loans:
They are straightforward, short-term loans with a loan tenure of 1-5 years and require the client to mention the purpose of the loan, and the amount sanctioned is based on the business credit history.

Working Capital Loans:

Working capital loans are short-term loans which fulfil short-term and current liabilities of a business as daily or approaching expenses such as rent or employee salaries.

Commercial Business Loans:

Commercial business loans cater to the capital needs of businesses with high turnover. These loans offer immediate capital with a flexible tenure. The loan is for enterprises that have been at least running for a year and are profitable.

Startup Loans:

As startups have become widely popular in India, Bankers offer startup loans to entrepreneurs who want to expand their current businesses. These loans do not require pledging any valuable asset as collateral and offer repayment flexibility to budding entrepreneurs.

Equipment Financing or Financing for purchase of Plant & Machinery

This business loan allows owners to raise funds to buy equipment such as plant and machinery or the latest technology or upgrade the existing machinery.

“My Rupee Mantra” Role
Our experts examine the financials such as last 3 years Balance Sheets, GST Returns, Profit and Loss Accounts etc. commercial score or rating of the business, study and analyze the requirements in discussion with the clients. The experts prepare the projected financials, project report and other data as required by the banks or NBFCs. They collate and create a best suitable Mantra (Product) which fulfils the requirements of both Bank and the Client.