Posted on Wednesday April 10th, 2019

Ambitious companies who are looking forward to making a company reach new heights. The most important thing that the company needs is cash. Trying to take out money by applying for a loan in the traditional method will cause a lot of anxiety, and it is a cumbersome process. What you can do now is go for Quick Small Business Loans which will sort out all your worries as everything can be achieved via an efficient online application. Many banks are offering this service which will help a lot of Companies as they grow.

Advantages Of The Loans

There are many benefits associated with this business loans the most vital one is that they are Collateral free and Unsecured Business Loans. Other benefits include

• The process of applying for the loan is paperless, and hassle of documentation is gone and has been replaced by a secure online method. From full-scale manufacturing and trading companies who are trying to be the next giant in the service sectors to small scale industries, there are options available for each company.
• The amount of loan that you wish to take out varies from 30 lakhs to 75 lakhs so that you can borrow as much you require.
• The funds are disbursed within a short period. The advancement in technology has helped us with our process of assessment of your credibility, and small businesses can get loans within 72 hours.
• You can also apply for a short tenure medium tenure depending on your trade, its objectives, and resources available to it.
• The available interest rates are low and competitive. This makes sure that it is affordable for SMEs as well as for MSME loans.
• There is also the top of feature available that allows you to borrow money if your amount taken falls short for the business that you have undertaken.

Eligibility Criteria

• Your age must fall between the bracket of 22 to 55 years.
• Lenders will check for your credit score and will typically require your credit score. Make sure that you have a Credit score of at least 650. If your company is going on for some time, then we prepared to submit a credit report for your company as well.
• The age of your business is also a factor, and most online lenders will prefer to give you the loan if your company is running for at least six months to 1 year.
• Your company’s income tax return must be filed for at least past one year.
• The loan company will also check for your annual revenue.
• To make sure that you will be able to repay the amount the lenders will check that your returns are 1.25 times more than what you spend in a year.
• You must also have your company’s bank statements and business financials along with the business premises rental form.

Based on your eligibility and your business venture you will get your loan. This process makes it easy for you to get a regular cash flow, upgrade your office space and machinery, purchase material that will help take up more bulk orders and scale up your company’s operations to expand its horizons.