A Business Loan is a financial product designed to provide Businesses with the necessary capital to meet specific needs. These needs can range from funding Day-to-Day operations to Expanding the Business, Purchasing Equipment, or even navigating challenging financial situations.
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Business Loan in Delhi-NCR
A Business Loan is a type of Financing used by Businesses to cover costs associated with running, operating, and growing their Business. Business Loan designed to provide funding to Businesses for various purposes, supporting their Operations, Expansion, or Addressing specific financial needs. When it comes to your Business, you want to do everything in your power to ensure that it grows and thrives. With Finvest Fortune Business Loan, we help you take your Business to new heights.
Eligibility Criteria and Documents required for Business Loan
Anyone can apply for our Business Loan if they fit the five requirements listed below. You will require a set of documents to finish your application process if you satisfy all the requirements for a Business Loan.
Eligibility criteria
Nationality: Indian
Business vintage: At least 3 Years
CIBIL Score: 685 or higher
Work status: Self-employed
Age: 24 years to 70 years*
*Higher age limit is applicable at the time of Loan maturity.
Key Benefits of Business Loan:
Flexible Capital : Business Loans provide Businesses with the flexibility to access a significant amount of capital
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Business Loan FAQs
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What is a Business Loan?
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How many types of Business Loans ?Different types of Business Loans cater to specific needs, including Term Loans, Working Capital Loans, Equipment Loans, Business lines of credit, and Small Business Administration (SBA) Loans.
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What Happens If I Can't Repay the Loan?Contingency planning is essential in the Business world. Unforeseen challenges may arise, impacting your ability to Repay the Loan. Understanding the consequences, communicating proactively with Lenders, and Exploring Renegotiation options can help navigate financial setbacks.
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Can I Secure a Business Loan with Bad Credit?Entrepreneurs often wonder about the feasibility of obtaining a Business Loan with less-than-perfect credit. While it poses challenges, alternative Lenders and specific Loan types cater to Individuals with Lower Credit scores.
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What is the difference between a Secured and Unsecured Business LoanSecured and Unsecured Business Loans are two types of financing options available to Businesses. The main differences between these two types of Loans are the use of collateral and the Lender's assessment of risk. Here are the key differences between Secured and Unsecured Business Loans: Secured Business Loans: Require collateral, typically Business Assets such as Equipment, Inventory, or Real Estate. Lenders may focus more closely on Credit score and Business history. Lower interest rates compared to Unsecured Loans Available to borrowers with minimal credit history or low credit scores Unsecured Business Loans: Do not require collateral. Higher interest rates compared to Secured Loans. Lenders may view Unsecured Loans as riskier and require a satisfactory credit history. May be more difficult to qualify for, especially for Businesses with Lower Credit scores or shorter operating history.