Business owners understand the significance of cash flow for maintaining the company’s development and viability. But people with seasonal productions and sales know the difficulty of managing this cash flow. While external factors like a competitive market, labor force, and the availability of raw materials are of prime importance for all companies, the requirement of capital finance varies among the companies. If you are looking for capital investments for the development of your business, a working capital loan can be a good choice. Working capital loans are the immediate funds provided by banks as well as NBFCs (Non-Banking Financial Companies). Entrepreneurs can meet their short-term financial business goals in a hassle-free manner with a working capital loan.
Benefits of Working Capital Loans on Business
Business professionals working in a dynamic environment will require quick access to funds high rate of growth and business development. Opting for conventional loans may demand for more time and efforts. A unsecured working capital loan can be applied as well as received easily within a short time span. Prominent NBFCs like Bajaj Finserv offer customized business loans like working capital loans to maintain healthy cash flow and avoid financial roadblocks.
Fuels Short Term Financial Requirements
You can avail up to Rs.30 lakh with a flexible tenor from 1 year to 5 years with Bajaj Finserv. You need not pledge collateral for this loan that makes this a more convenient option for financing business. Whether you want to pay the wages, purchase raw materials, or fulfill other financial requirements, you can consider working capital financing.
Flexi Business Loans
Bajaj Finserv offers a unique flexi loan facility through which you can opt to pay the interest amount as EMI and repay the principal amount as and when possible within the tenor or at the end of the mandate. This facility helps in rebalancing the business funds efficiently as the EMIs are reduced up to 45% with a flexi business loan.
Sustain Business Ownership
Other financial products demand the ownership of the company/house in exchange for providing the loan. But, with a working capital loan, you can sustain your ownership over your company even when you avail the loan. However, you may need to pay higher working capital loan rates due to the shorter tenors and lack of collateral security.
No End-Usage Restrictions
You need not mention your loan provider about the end-use of the loan amount to avail a working capital loan. You can use the loan amount for any business development purpose of your choice. The only prerequisite is that you spend the loan amount for increasing the business revenue and maintaining the daily business operations.
Along with quick disbursal, you also get the advantage of availing loans with just 2 documents with Bajaj Finserv. Also, the NBFC approves your loan within 24 hours after you submit your business loan application.
Quick Online Procedure
You can apply and manage your working capital loan using the easily accessible online account provided on the website of your financial provider.
With Bajaj Finserv, you can get business loans online with an easy application processing and faster processing time. You can manage your loan account easily on their customer portal- Experia. Additionally, you can also avail pre-approved offers on the loans you avail, and get funds in an instant simplifies the loan application procedure and helps you save a lot of time.
Maintain Cash Flow
Every business faces a fiscal break during the business development journey. You need not meet the decline of your business due to lack of funds. Working Capital Loans can help you maintain cash flow to retain the cash flow by supporting the health and growth of your business.