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Benefits of Working Capital Finance for Small and Medium Businesses
Benefits of Working Capital Finance for Small and Medium Businesses

Owning a business in India has its share of advantages and disadvantages. There might be times when you gain high profits from your business, and similarly, at times, you might be experiencing heavy losses. Even the trained business professional go through lumpy cash flow troubles. Small business owners often rely entrust on working capital finance to bridge such cash flow gaps. A working capital loan is the short-term financial assistance provided by traditional banks and Non-Banking Financial Companies (NBFCs) to overcome the daily financial requirements of small and medium businesses. Working capital financing is not meant for long-term business goals like purchasing assets unlike with business loans.

Benefits of Working Capital Finance for Small and Medium Businesses

Every developing Small and Medium Enterprises (SMEs) has to go through the demands of the current market and decrease in the monthly revenues. It is difficult to pay off the debts and wages during such phase which is when working capital financing is at your aid. To choose the right source for a working capital loan is another important factor determining the make or break of your business. Following are some benefits of working capital financing to help you choose the right plan in accordance with your requirements:

Financing Up to Rs 30 Lakh

With prominent financing companies like Bajaj Finserv, you can avail unsecured working capital finance of up to Rs 30,00,000. You can work on your small business growth efficiently without any barrier.

No Collateral/ Security needed

As mentioned above, working capital financing is unsecured loans that do not require pledging of assets as collateral to secure your loan amount. Therefore your business assets are saved from the confiscation risks.

Easy Access to Funds

You can make quick online application for working capital finance with Bajaj Finserv. All you ought to do is to fill up the working capital loan application form. Within 24 hours of your application, personnel will be at your doorstep for document collection. You need to submit minimal documents, and your loan amount will be disbursed quickly if you meet the eligibility criteria. You also get pre-approved offers above the loan amount which would be able to maximize the benefits that you can receive.

Flexi Interest-Only Working Capital Loan

Bajaj Finserv offers the unique facility of an interest-only working capital loan. When you avail this facility, you can choose to pay only the interest levied on your loan as the EMI. The rest of the loan amount can be flexibly repaid any time during the tenor or at the end of the loan term. This facility aids in reducing the EMIs up to 45% and helps your small business funds management efficiently.

Flexible Tenor

The working capital finance is a type of short term business loan with flexible tenor options. You can choose a tenor ranging between 12 months and 60 months. However, the tenor may vary among the loan providers.

Low Business Loan Interest Rates

The working capital loan interest rate range from 18% to 21%. If you choose a fixed working capital interest rate, you will have to pay a fixed rate of interest throughout your loan term. And if you opt for floating interest rates, your working capital loan interest rate will depend on the market rate fluctuations. The loan provider determines the loan amount to be offered, interest rate, and tenor of your loan based on the size of your company, creditworthiness, and the ability to repay the loan amount.

Speedy Disbursal

Bajaj Finserv, along with quick application procedure, provides you with access to your working capital finance within 2 days. Your application is processed within 24 hours, and you will get 24/7 online as well as offline assistance to complete your loan procedure. For quick processing, your documents are collected from your doorsteps. Also, you can track your loan account using the online portal provided by Bajaj Finserv.

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