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Posted on Friday July 15th, 2022

A business loan is a financial solution which is designed to fund business operations. Similar to other types of credit, it involves the creation of debt which is paid back along with interest. There are several types of business loans offered in lending sector such an asset based financing, cash flow loans as well as microloans.

ShubhBank is popular for business loan because of its safety, transparency, quick disbursal and 24X7 customer supports. One can Apply For Business Loan to solve the issues that a small and medium business firms face in accessing quick and ample amount of funds for smooth business operations.

However, there are many lending institutions offering business loans but here are some noteworthy reasons why you should choose the ShubhBank for your financial requirements in expanding and operating the business.

Minimal Paperwork: We aim to provide an easy and convenient financial solution with a motive to solve the problems faced by various business companies in acquiring funds for growing their business. One can avail quick business funding with minimal paperwork making the loan procedure very simple.

Safe and secure process: Our institution follows all the mandated RBI guidelines and policies to secure your personal information and loan details, therefore one need not to worry about the credibility from where you are accessing the required funds and your data to be stolen.

Transparency: ShubhBank is one stop solution to give you a financial access at a single click on our website, small and medium scale business persons can borrow from us to avail monetary aid tailored to their needs at a speedy approval and transparent processing charges so that there would be no surprises later.

Fast processing: When you apply for a business loan at ShubhBank, you will get quick approval on your business loan from our institution, first check your eligibility and upload the required documents to get an easy approval on your loan application. The loan amount will be disbursed directly to your bank account within 2-3 business days.

Hassle-free process: We understand the need of an hour that monetary requirements are necessary. You might need cash urgently when the situation arises. You can also Apply For Business Loan Online where the application get approved within 1-2 business days if you are an eligible borrower and funds get directly credited to your bank account.

Multiple types of business loans: ShubhBank’s lending solutions will help you with multiple types of business loans such as term loans, line of credit and machinery loan etc. and you can borrow the specific one according to your needs and apply for a particular loan solution.

ShubhBank is an online as well as offline lending market place which is known as the best model to meet the cash requirements of various business companies to upgrade and expand their production units to reach the newer heights of success. We offer our customers a better loan experience, better guidance about products and services as well as give our borrowers a fast and convenient loan application process.

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Posted on Monday April 18th, 2022

Funds always gear up your business whether its micro-scale, startup or big industry, liquidity is equally important for each one of them. However, availing a business loan is easy these days but all loans are not made equal. Some of them need stringent credit history and heavy paperwork and some have high rates of interest. There are multiple lending institutions that provide business credits where choices can get confused.

Sometimes, business needs are urgent and require instant funding hence here we will talk about some of the options that provide quick funding for your business. Therefore, before you Apply For Business Loan you might know about the risks to ensure yourself to yield out positive returns from borrowing. One can know the total loan cost by using an EMI calculator available on various digital lending platforms.

The borrowing cost and estimated EMI will help you to adjust your loan amount according to your repayment capacity. Well, we have opted out some of the best and fast business loans that can be helpful for your business needs. Go through the options listed below:

Peer to Peer loans: This type of lending is growing rapidly because it has no middleman. However, these loans have higher rate of interest but more suitable for those who require urgent funding. The P2P lending market works through digital platforms that connect borrowers and lenders directly.

The upswing in P2P lending process is due to simple processing as it is very streamlined and the whole process is done completely online with minimal eligibility requirement. The rate of interest payable and loan size depends upon the borrower’s credit score.

Micro loans: If someone owns a small business and looking for funds to expand his/her business, then the micro-loan can perform well here. This loan is provided at comparatively lower rates of interest and has a short tenure making it ideal for small business needs.

These loans are available with non-profit sharing funding options that work the same way as the traditional business loan works. You can freely use the funds secured as per your requirement but lender can ask you for a robust business plan to ensure the loan repayments. The average tenure of the micro loans range from 2 to 5 years.

Business line of credit: This option works like a credit card where you can use your line of credit as per your need and convenience without applying over and over for a new loan every time. The limit allotted to the borrower generally depends upon the profile, business profit as well as repayment capacity.

One can only borrow up to that amount and have to repay it as long as he/she go over the maximum limit and make minimum repayments. You are charged a monthly interest on the loan amount you use as in terms of credit cards.

These are some of the quick funding options for business requirements mentioned above for which you can Apply For Business Loan Online to get approved in less time with minimum documentation and hassle.

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Posted on Wednesday March 9th, 2022

However, closing a business loan definitely boosts you to focus more on your business growth but if you are worried how to repay your loan faster and this stress is weighing you down then this blog post really going to work for you.

It is the convenient way to Apply For Business Loan to get your all business requirements to be fulfilled but repaying it is more important to maintain your creditworthiness. Here, we are discussing some methods to repay your business loan faster to enhance your credit profile.

Do part-payments: Well, paying an EMI once in a month is gross but you can also use your extra income to pay off your debt faster. It may charge you some fees but helps you to repay your loan early. Remember, this facility usually comes with secured business loan but if you have opted an unsecured business loan, it is good to know prior about the loan terms and conditions.

Increase your monthly installment: If it is possible for you to cut out your monthly expenses or you have acquired profits from business, then you can ask your lender to increase your monthly installment by certain percentage. The possibility for this remedy will also depend upon lender norms and conditions as well as on the type of loan you have secured.

It would be good to use EMI calculator before applying for the specific loan to plan out your tenure and budget conveniently.

Refinance your Business Loan: In case, you get another better deal and low rate of interest from different lending institution than current one, you can consider an option of balance transfer of a business loan to that lender. Remember, check all the benefits you are going to get before you refinance your business loan.

Most of the lenders allow their clients to foreclose a loan after paying certain number of installments and can also charge you a fee over outstanding loan amount. In addition to that, new lender may also charge you processing fees and other hidden charges. Therefore, it would be good to take into account the total expenses before refinancing a loan.

Set an auto-debit on EMIs: When you Apply For Business Loan Online you can enjoy the feature of auto-pay which can help you to repay your business loan faster as it ensures you not to miss a single repayment, thus saving you from penalty. Some of the financial institutions also offer discounts when you pay through auto-debit feature.

Be wise while borrowing: Borrowing something and returning it on time is really important to maintain your reputation and credit worthiness, so don’t over borrow as if you won’t be able to manage your repayments then it can lead you to huge repercussions. Hence, it is necessary to borrow the money that you can repay easily without hitting your business cash flow.

Other thing to take care of is to avoid unnecessary operational costs till you are serving your loan. Manage your resources and work constantly on the above mentioned methods for early repayment of your business loan.

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Posted on Friday February 11th, 2022

It involves a great amount of money that has to be invested from time to time to run a business smoothly. Many of the business owners who just had started their business or had a small business don’t have ample amount of cash to ensure the smooth operation of the business and they have to Apply For Business Loan. Sometimes, it is not easy to get approved for loan and borrower face a rejection by the lender. Here, we have mentioned some common reasons behind a rejection of business loan:

Company’s Credit Rating: This factor plays a major role in availing a loan against business as it reflects the creditworthiness of business person. Every lender account on the score, business credit rating as well as individual credit score. The rating depends upon the financial history of business, tax return details; business registration details, personal credit score etc. Therefore, low rating of business unit as well as owner’s low credit score brings a greater chance of loan rejection for business.

Insufficient Collateral: It could be a major reason behind the rejection of business loan for small scale industries. Most of the lenders require any physical asset of an equivalent weight age to loan money to ensure the repayment of the loan but small scale industries don’t have adequate collateral to offer as a guarantee. As the loan quantum depends upon the value of collateral and insufficient collateral makes the lender to step back from giving you a business loan.

Poor Documentation: To avail any loan, an applicant has to provide all the necessary documents. In case of business loan, one has to provide the papers regarding company’s account statements, contracts, business plan, tax return details, legal documents, financial statements etc. Sometimes, businessmen are not able to provide accurate papers which may lead to the rejection of business loan. Hence, loan applicants have to be precise about the paperwork before they Apply For Business Loan Online or offline.

Inadequate Cash Flow: Every lender takes an account of your cash flow earned through business before approving a loan to you. Generally, small scale businesses and start-ups often struggle with adequate cash flow to fulfill the loan terms and conditions and lender may reject your loan application as your financial situation risks your repayment ability. Therefore, new and small production units need to manage their cash smartly and in better way by sharpening their accounting skills to avoid any kind of loan rejection.

Small loan quantum: Most of the times, small scale industries apply for a smaller loan amount as they don’t have a need of too much cash and their operational units are easily manageable with less funding but the lower loan quantum is not profitable for most of the lenders when it is compared to expected return. Every lender wants to go for larger loan amount as it is earns more profit for them. Hence, a loan seeker needs to evaluate all the necessary aspects of their company and underwrite the loan amount for which they get easily approved for.

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Posted on Wednesday December 22nd, 2021

With the advent of 2022, we are entering into a new year. Hopefully, this year would be time for innovations and new ideas. Generally, every year, people tend to plan for similar things as their new year resolutions. Some of the business owners or self employed are trying to improve their services and profits while salaried employees are struggling to achieve their targets. Many people are making strategies for new financial year whereas some are planning for relief at exotic locations. Therefore, everybody is looking for a new beginning.

The world is growing at a fast pace which is bit hectic for everyone to match the frequency but the after effects of Pandemic has given us a reality check. Nowadays, people the importance of good health and wants to be physically and financially healthy. Since the past era, mankind has not witnessed any pandemic that brought the entire globe under lockdown. Whether a country is grown or under-developed, every working person is sitting at home and trying to be safe by following social distancing.

In past times, we have observed a drastic change in terms of how business companies are using upgraded technology and data. The digital platform is used to communicate, buy, and sell the products and services by giving the customers an experience at their personal space at their fingertips. The e-commerce sector is already expanding pace and growth in the market with each year such as Fintech and many more.

With the Corona virus Outbreak, some sectors have continued to show improvements like education, entertainment, e-commerce and IT firms. With their significant efforts, our country’s economy has continued to move upwards. Nowadays, entrepreneurs have taken note of this and they have understood their need to improvise their business to be assessed with online world. However, everybody wants to grow their business but there are some restrictions, most significantly funds which can be fulfilled, if you Apply For Business Loan that helps you to access the required funds easily.

ShubhBank is one of the renowned fin techs in the country to distribute all types of loan solutions. We disburse number of loans such as Personal Loan, Business Loan, Home Loan, Mortgage Loan, Loan against property and many more. Our NBFC has a presence across every city in Pan India. We have witnessed how the world is upgrading digitally and hence launched our website ShubhBank.com to utilize the online space to expand ourselves and help our clients and channel associates nationwide.

If we look into past decades, it has been proved that humans have always defeated the grave disasters, thus Covid-19 pandemic will not be an exception. While we sit in home working in lockdown, some of us would be filled with some innovative ideas that they would like to pursue in coming days.

You will be amazed to know that we at ShubhBank, wishes to tell you that if you have a robust idea for your business, we also believe in you. We are aimed to source your plans financially to expand your growth in the market when you Apply For Business Loan Online. Hence, visit our branch or get an access online to ShubhBank.com and share your needs and ideas with us.

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Posted on Thursday November 25th, 2021

A business needs a lot of cash for following the changing market trends. These funds are not only required for the survival of the business but also to handle other expenses which are required to maintain the smooth business operations. Therefore, every business must maintain a high level of working capital as it ensures the effective and efficient running of the firm without any obstacles.

In some cases, when you find the working capital is low or shortage of funds, a business owner can Apply For Business Loan and use that loan money to cover the different expenses of the unit. In this post, we have discussed some expenses which you can fulfill with the help of a business loan:

Cost of location: Every business set-up requires a location that is beneficial for both the supplier and the market. Besides that, it depends upon if you buy or rent the place too. Once you set up your firm then your expenses can be related to the maintenance and expansion of the business required as per needs. These things require a lot of money where a business loan can help you with all these.

Cost of assets: When you run some business unit, you need some assets that will help you to achieve success in production and manufacturing as well as increase efficiency. To upkeep these assets and to purchase the upgraded ones, you can secure a business loan. The loan quantum from this loan solution will help you take care of all expenses related to purchasing machinery or equipment.

Costs of employees: Your office staff is very important to mark your business operations. So, you need to take good care of them and offer those bonuses and other benefits. These benefits can range from high remunerations to health schemes, to gifts and provident funds or sometimes with vacation etc. If your business unit has more labor, then you may require a higher amount and hence a business loan will make you sure to take care of employees related expenses.

Costs of security: It is very important for a good survival of your business by keeping your location, machinery/equipment, your production unit and your employees up to the mark. However, it is also very significant to ensure your firm is safe from any theft or malpractices. To get a high level of security, it needs a higher cost where again a business loan can help you to cover such expenses.

Having an eye for all such things while running a production unit is very important. It enables you to identify any flaws and needs to take corrective steps. In case, your profits or working capital is not enough then you need to worry about it. All you need to do is Apply For Business Loan Online or offline via ShubhBank and by securing a good loan quantum; one can clear all these expenses. First, check your loan eligibility for getting an approval on loan and then compare the interest rates on it to secure a best deal ever.