Most businesses prefer to apply for collateral free loans since they may be in their initial stages or may not have adequate business/personal assets to put on the line. Some business owners may have problems in pledging their personal assets in order to avail of business loans. Collateral requirements may be problematic for innumerable small businesses. This is one reason why many small businesses resort to unorganized means for getting funding and shy away from applying for loans at many financial institutions.
Getting a zero collateral loan is the top priority for several businesses. Several lenders ask for collateral since this is used as security against the loan that is sanctioned. Finding a without security business loan is tough but not impossible if you know where to look. Another factor that bugs most businesses is the absence of a mechanism for fast and speedy small business loans online approval. It is a reality that most businesses require funding in order to take care of sudden or urgent requirements, be it expansion of the business, consolidation, operational expenses, machinery upgradation and more. Whatever be the purpose, funds are required swiftly since in today’s competitive arena, time is of the essence for any business or entrepreneur.
This is where lenders often pose a problem for business loan applicants with their complex and long drawn processes. Several lenders have lengthy procedures for application, verification and approval. It may take a long time to obtain approval and disbursal comes much later. This is where tons of paperwork can be a bane and something that often makes entrepreneurs or businesses refrain from applying for urgent funding. If you are looking for a zero collateral loan, you can consider applying for a business loan from Bajaj Finserv.
Bajaj Finserv does not have any collateral/security requirements which should come as a major relief indeed! Additionally, another advantage is that the entire application process is easy, hassle free and fast. You can easily apply online for a business loan by filling out the form and submitting all relevant information along with uploading your documents. Instant approval is granted if you are eligible within just a few minutes. Company representatives then contact the applicant with pre-approved loan offers. The entire documentation, verification and disbursal process is hassle free and super-fast and this will help you get necessary funds when you need them urgently.
You can easily check your business loan eligibility online along with the expected EMI for the amount that you desire. This helps you plan better before applying for the business loan from Bajaj Finserv. You can apply for a business loan up to Rs. 30 lakh at a highly competitive rate of interest. There are specialized offerings like Flexi Loans where you get an allocated amount for a particular duration. You can flexibly use the funds and pay interest only on the amount utilized. You only pay interest as the EMI every month while the principal can be repaid when the loan tenure ends.
These innovative offerings are immensely useful for businesses who are looking for a sustained flow of capital to take care of diverse expenses.