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WHAT ARE THE BENEFITS OF ONLINE BUSINESS LOAN BY SHUBHBANK

Posted on Monday September 30th, 2019

Business Loans are one of the convenient ways to fund every business but it might take more time or one might not get approved due to certain reasons which include some requisite documents or lack of a proper business plan. Most of the lending companies like NBFCs & DSAs have started processing and disbursing the online business loan. The entire loan processing is online which saves you from all the hassles and gives you the comfort of availing a loan while sitting at your home or in office.Online business loan has gained massive popularity among business persons in present scenario. Business loan by ShubhBank offers flexibility in all these aspects as compared to that of banks and this has made our organization to be ahead of the banks.

BENEFITS OF ONLINE BUSINESS LOAN

Hassle-free Process
No heavy paperwork and no need to fill lengthy application forms.The application form is available online with minimal fields to be filled at our website. Soft copies which require basic documents needs need to be submitted online along with the form. It provides a convenience to the applicant to fill the loan application from a laptop or a smartphone being anywhere.

Flexible Tenures
Online loan offers flexible tenures for the repayment; this makes repayment easy for you. One can choose business loan tenure for a minimum of one year to a maximum of 6 years. But this can also vary from one lender to other. Many lenders offer business loan under fancy names such as capital loans, working capital loans, machinery loans, and term loans.

Nominal Eligibility Criteria
Each lending company has some straight-forward & minimal eligibility criteria. Generally, when you go with traditional lenders such as banks, the eligibility criteria set by them are difficult to meet by small and medium scale enterprises. But ShubhBank offers flexibility which doesn’t depend much on the CIBIL score or the borrower’s profile. You need a proper business plan to get approved for a Business Loan Application.

Attractive Interest Rate
Our business loans are cost-effective as we offer the loan at affordable interest rates. When you compare the rates at which online lenders lend you the money, you will find it is way attractive than the traditional lenders.


Transparency in Processing of Loan
When you apply for an online business loan, you will get an application number. Using this application number, you can track the processing of your loan application anywhere and anytime. This makes the processing process full transparent for the customers.

Collateral Free
Most of the online business loans are collateral-free or do not need any security. This means unlike other conventional loans by banks you don’t need to pledge any collateral or guarantor against the borrowing.
Online business loans can be taken to maintain or expand a pre-existing business, or to fulfill any operational need. ShubhBank provide numerous benefits associated with an Online Business Loan which can help the businessmen to manage their venture and to prove their potential.