What Kind Of Business Loan Does ZipLoan Offer?

Small business can choose from different options of business loans to meet different financial needs. Each loan product has different requirements, terms & conditions, and interest rates. Whether you need a loan to buy machinery/equipment or inventory, there is a specific type of a loan that will suit the needs and preferences.

At some point or the other, every business requires additional funds—whether to hire new employees, boost existing cash flow, or expand the business to the next level. For all these various needs, there are different financing options to choose from, and each one of them is as unique as the business availing a loan.

Below, we will dive into the details of different types of loans for business. This guide will explain the needs of the loans and their purpose in great detail. This will help you learn about the different business funding and thus, find and choose the one which suits your needs the best.

Capital Loan

Capital is the main investment to run a business. It is the first investment through which a business owner starts his business. When starting the business, he invests all his money and even borrows from his friends and family. However, as the business grows, it requires more infusion of funds which sometimes the business owner lacks. Owing to the same reason, he looks for different sources of getting additional funds for his business.

A capital loan can be very helpful here. You might witness a growth opportunity but may not have enough funds for it. You can avail a business loan to meet your capital requirement. Availing a loan to invest as capital can be very beneficial as helps in increasing and growing the business and never letting you go any opportunity from your hands.

Working Capital Loan

In addition to investment in capital, a business needs to meet its everyday financial requirements. Working capital is required to fund the day-to-day operations of the business. There are many needs for which funds are required, such as to pay salaries and wages, electricity bills, office rent, etc. Sometimes a business owner faces a cash crunch and is unable to sail through a month or two.

In situations like these, a working capital loan can be availed for this need. A working capital loan is the especially designed financial product to meet all the everyday requirements of the business. It can help you meet all your requirements in a timely manner and sail your business for a month or two.

Machinery Loan

Machinery or equipment is a very important aspect of a production company. The better the machinery, the better is the quality of the products. A good in shape machinery also ensures that the demand is met on time, and only high-quality products are manufactured. However, machinery is an expensive investment and often requires high amount. Sometimes, business owners don’t have enough funds, so they have to avail loans to meet their requirements. They can avail a machinery loan to meet their requirements.

ZipLoan offers machinery loan without collateral, ranging from Rs. 1 lakh to Rs. 7.5 lakh. The funds can be used to update the machinery to the latest version or buy a new one. You can avail the funds to buy machinery and repay the money in easy monthly instalments.

Term Loan

A term loan is the best option to consider if you want to avail a small business loan. It offers you funds that you require upfront your small business needs. The amounts need to be repaid to the loan lender along with interest calculated on the principal loan amount. The term loans come with longer repayment tenures and larger loan amounts as well. The interest rates are low on these types of loans.

Lines of Credit

It is one of the most popular business loans among small business owners. The lines of credit are also known as Flexi loans. The loan lenders offer a line of credit where you can withdraw the amount up to the limit whenever you require, as per your convenience. It works like a business card. Here, you can withdraw cash as and when required and the interest would only be applicable on the amount withdrawn by you, and not on the entire credit limit.

Line of credit is a good option for business owners whose financial needs often arise out of the blue. It gives you an immediate cash cushion at the time of need. You don’t have to undergo the entire loan application process at the time of emergency but just get access to funds.

Choosing the right business loan type is the main difference between your business being a success or failure. And now that you have all the information about the various business loans offered by ZipLoan, you can make a sound choice. Whether you need to buy equipment or solve your cash flow issues, ZipLoan is there to help you.

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