Want To Kickstart Something? Small Business Loan Is For You!

A small business loan, also known as a commercial loan is a loan product devised particularly for investments in business. Young generation is more inclined towards opening their own business and for that they require urgent business loans.

These loans can either be acquired by collateral or be unsecured, based on the amount of loan required, the type of loan and the relationship between the business and the lender.

Some Small Finance Companies in India

There are so many small finance companies operating in India who are ready to fund for your business or organization. There are so many customized loans that can give your business the much-required boost to help your enterprise scale new heights with enhanced competitiveness and profitability.

The purpose of Small Business Loan is to assist small businesses, self-employed section like traders, manufacturers and services (hotel industry, machines, garages) that have instant requirement of capital to better their operational, working capital capacities.

To be sorted as Small enterprise, an enterprise should have an investment of less than Rs.10crore and a turnover of up to Rs.50 crores. A Medium enterprise must have an investment of less than Rs.50 crores and a turnover of up to Rs.250 crores. So to apply for SME business loan, keep the above fact in mind.

Business loans can be given to the following group of customers by the lenders-

Do you know the eligibility criteria of availing business loans?

Out of the above group of customers, anyone can avail loans for small business whoever meets the following criteria-

Before applying for a business loan, calculate your Business Loan EMI and get an idea of the maximum loan amount you may be eligible for and the tenure of your loan period which ranges from 60 months to 84 months.

Do you know how to apply for small business loan?

There are mainly two ways by which you can get an assistance of a small business loan from 2 to 50 lakhs, either through online process or by visiting the nearest branch office of the lender. So what are you waiting for? Fill up the online application form fast.

Conclusion

When you are in utmost need for money to start your business the small finance companies are there to solve your problem. Don’t worry. Just seek out to those companies like Vistaar (www.vistaarfinance.com) who provides a quick and hassle-free funding for your business.