ZipLoan – Best Business Loan Provider for Travel Agency
Travel and tourism is a big industry in India. It is a significant employment generator and considerably contributes to the Indian economy. The Indian travel and tourism industry is ranked 12 in terms of GDP contribution (among 184 countries). Also, it is set to grow at a rate of 7.8% during the years from 2013-2023. So, many new entrepreneurs are coming in this sector as travel agents.
And with their emergence, there is also an increased demand for a business loan for a travel agency. To meet this demand, we offer travel agency financing in India at very competitive interest rates in the market. We are an RBI registered NBFC offering small business loans to SMEs and MSMEs in India. Our business loan ticket window in INR 1 lakhs to 7.5 lacs.
We require minimal documentation for a business loan for a travel agency. Our business loan document list includes PAN card, last 12 months bank statement, last 2 years ITR, business place address proof, and residence address proof. Our eligibility for a business loan for a travel agency is also very minimal. It only includes the following:
- Minimum Turnover of INR 10 Lacs in the last 12 months.
- Last year ITR of more than INR 1.5 Lacs.
- Either house or business premises should be owned.
- Business place should be separate from the residence.
- Business vintage (operations) for at least 2 years.
How a Travel Agency can Use the Travel Agency Financing?
A business loan for travel agency can be used for the following purposes:
Marketing & Social Media: Marketing is an important aspect for the small business and so is for a travel agency. The major competition for them comes from online flight booking agencies. Customers these days are interested in searching for everything, for which they look for the social media presence and customer reviews. The reliability of the travel agency depends on social media presence.
New Equipment: A travel agency financing can be used for buying new equipment. With the presence of technology everywhere and its increasing impact, the travel and tourism industry also tends to be updated with it. New equipment may help in new Point of Sale systems or for other purposes.
Expansion: Expansion is what every business looks for. A business may be doing well but is not generating enough capital for expansion. It can avail a travel agency business loan for expansion purpose.
Renovation: A business loan for travel agency can be used to renovate an office with up-to-date and trendy infrastructure. The current society is dominated by the first impression and so, an up-to-date office infrastructure is required.