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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 Monday October 25th, 2021

A business loan helps the business owners to turn their dream of business ownership into a reality. Most of the lenders in the market offer the business loan to provide necessary funds to the businessmen. However, when you finalize your decision to Apply For Business Loan which helps you to get business off the ground but it has certain drawbacks which we have mentioned below:

Weary Application Process: A business loan has a tedious application process with lots of complexities as compared to other loans. Every lender checks and validates each and every required document that business person puts in application. The lender judges your loan eligibility whether you are eligible or not for business loan which could be an extensive process.

Chances of Rejection: Every lender imposes strict rules and conditions on the business loan approval. Not all the businesses will meet the eligibility criteria fixed by the lending institution. It is always good to know how lender analyze your application before sanctioning you a loan.

Don’t waste your time in application if there are no chances of it being accepted d dealing with rejection can be difficult and left you wondering, where you should go ahead to get funds for your business needs.

Collateral: Every lending institution requires some form of asset as a security before lending you the loan money. Hence, you have to put any of your personal assets at risk if your purpose doesn’t get fulfilled. You may face the possibility of losing not only your business but also the asset you pledged for loan.

High Interest rate: The rate of interest on business loan can be very high which can defer your business development and growth as your business needs to gain profit from the loan money and manage the cost of high interest rate. Moreover, this extra cost makes it difficult to plan other sound financial strategies.

Credit Score: Some of the lending institutions will let you peek at the loan money depending upon the rate of your credit report. Whether you Apply For Business Loan Online or offline, you have to permit the lender to access your credit report and it will always drop your score by few points.

Applying the loan with multiple lenders put your creditworthiness in a worse place than you applied it for first time. If you want to secure a bigger loan quantum, you have to maintain a good credit score by being regular in your repayments and shedding off the debt load.

Loan Approval: Above mentioned factors wouldn’t be an accurate list of setbacks but it’s hard to get a business loan in some instances. Few lenders offer shorter and streamlined ways to get required finances but renowned lenders still ask the business owner to submit a lot of financial paperwork, tax returns as well as marketing plan to get into the door.

It can be almost impossible for new venture to get a business loan as lenders ask for the profit records of last two or three years. Therefore, start ups choose to look for other methods of funding.

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Posted on Wednesday August 11th, 2021

With COVID-19 restrictions changing daily, every business person is under great deal of stress by disruptions in supply, lower cash flows and increasing overhead costs. Nowadays, many lenders are offering secured and unsecured business loans to keep your business healthy as well as help you to provide the customers, a quality services and products. Being a new business person, when you don’t have much of assets to pledge for loan, you can also Apply For Business Loan without collateral.

Yes, such loans are called unsecured business loans especially for those who don’t have any assets to offer as collateral. It could be great if your firm is growing and you require funding to cover new costs. Collateral is a main difference between secured and unsecured business loan which have a great impact on loan terms which we will discuss in detail.

→ Loan Amount: As there is no requirement of security, the loan amounts sanctioned by lenders are small for unsecured business loans as there is more risk involved to default on payments where as secured loans will generate you a desired loan quantum.

→ Loan Tenure: Unsecured loans are always offered for a short tenure as compared to secured business loans. As there is more risk involved for lender to recover the loan money but if your repay the loan as per predetermined EMI schedule, you can secure other loan for longer tenure easily because of your trustworthy business.

→ Interest rate: Most of the lenders charge higher interest rate for an unsecured business loan than a secured one. Providing a lender with no security makes you more vulnerable to loss in case of default, for which they charge high rates to compensate for that.

There are some advantages linked to unsecured business loans which are mentioned below:

→ No collateral: A secured business loan always demands for some form of collateral but in unsecured loan, one does not require collateral. It means even if you default in case of such loan, one does not risk losing any security to the lender.

→ A chance to grow: If you don’t have any asset to provide a lender, it should prove as a barrier for your business. Therefore, unsecured business loans are great way to build a good credit score as well as these loans have shorter tenure, one can borrow small quantum, repay them quick and can secure another business loan qualifying you with larger loan amounts.

→ Quick processing: The loan processing and disbursal time for unsecured business loan is less as lender does not have to spend time in verifying the value and legitimacy of the asset you offer them. These business loans generally require minimal documentation which reduces its processing time. If you have a good credit history, strong business plan and business documents in hands, you can easily process a business loan within few days.

If you want to Apply For Business Loan Online or offline, start your unsecured business loan application with ShubhBank today. You will experience a zero hassle and zero hidden charges on our business loans.

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Posted on Wednesday June 30th, 2021

Securing a loan for your business is not an easy task but when the much needed funds are disbursed to you, you are able to recruit new employees, get your old machinery repaired, and purchase new equipment to keep your business operations running efficiently. However your journey while you Apply For Business Loan is not easy as a walk in the park as it involves few hurdles but you can tide over them with a bit of guidance.

In this article, we will guide you about some of the obstacles that may come across while availing a business loan which are listed below:

Unable to meet collateral requirement: A business loan is a secured type of loan where most of the lenders ask for collateral against loan money. This is one of the major roadblocks in taking business loan especially for micro scale businesses as they don’t have much security to pledge. So, it is better to find a lender who offers collateral free loan where you can secure the funds without putting your assets on the line.

Unsuitable credit score: A credit score is one of the key factors to get through eligibility criteria that lenders will check to determine your creditworthiness and repayment capability. Thus, without a good credit score, lender may reject your loan application. This issue is common amongst small scale businesses and new enterprises as they have very little or no credit history. One cannot build a good CIBIL overnight, so layout a robust business strategy to convince the lender about your repayment ability.

Inconsistent cash flow: Every lender favors the loan applicants with a constant cash flow because it reflects your business health whereas lenders view uncertain cash cycles or inconstant revenue streams poorly. Therefore, try to optimize your cash flow before taking a business loan. It is advisable to keep your financial records and income statements duly updated to maintain a spotless profile. You can approach ShubhBank to Apply For Business Loan Online or offline that requires a decent credit score.

Existing debt: If you have a pre-existing loan, lenders may not review your loan application positively. This is very common scenario for any enterprises with pre-existing loan as it reflects a high debt-to-income ratio which is a comparison of your total monthly installments to your total monthly income. There is not particular DTI ratio but the lower it is, the better it is. Make sure to pay back your existing loans timely which help you to build your credit score to enhance your loan eligibility.

If you really want to avoid such hurdles and quickly want your business loan to get approved for your requirements then avail a business financing from ShubhBank. We provide both secured and unsecured type of business loan solutions at competitive rates of interest, minimal documentation and flexible repayment period for maximum convenience. You can also use the loan EMI calculator to check your repayment potential. Visit us for business loan as it can be the key to the growth of your company.

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Posted on Friday March 23rd, 2018

We “Offer the Business Loan” to owners to enable them to run their units efficiently, successfully and is characterised by various incentives aimed at reducing their expenditure. This loan is provided for catering the various business requirement such as working capital requirement, purchase of industrial equipment, start ups, up gradation of technology and establishment of new buildings among many others.The determinant which will play a key role in acquiring a loan is robust business plan. We need to be convinced that the business proposition is sound in terms of financial viability. You can apply this loan through our website and our skilled professionals with help you to continue your work with customised loan scheme offering major benefits.