A commercial loan is a loan provided to the companies required for their business by financial lenders.
What is a Small Business Loan?
A Small Business Loans is a commercial loan specially designed for MSMEs who are in urgent need of funds required for its business, working capital needs and day-to-day expenditures.
Depending upon the needs of its business, an MSME can choose either a secured business loan whereby an MSME need to pledge collateral as a security against the business loan or unsecured business loans which is a loan for business without security.
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ZipLoan is the Lender of Choice for Small Businesses.
No balance sheet needed
Collateral Free Loan
For a business with turnover of 10L+
Receive Funds within 3 Days
Straight into your account
No Prepayment Charges
After first 6 months
What are the Advantages of Small Business Loans?
Small business loans are advantages because of its following features:
Small business loans can be applied online through Online Business Loan option.
It requires minimal collaterals in terms of documents required for a business loan.
It has a flexible business loan repayment mode and tenure.
Why the Need for Small Business Loans?
Few of the reasons an MSME may need small business loans are as follows:
To upgrade the office: An MSME may need a small business loan to upgrade itself either by renovating its office, increasing its warehouse space, building a better infrastructure, etc.
To invest in plant and machinery: A small business loan may be used by the MSME to invest in new plants and purchase the required machinery to increase its production capacity to cater to the market demand of its products.
To increase its manpower: A company would need adequate manpower to implement new ideas in its business but with added manpower comes added expenses like salaries, incentives, etc. Thus, small business loans are needed.
To invest in digital marketing: To increase its market presence in the current modernization era and expand its business, a company may need small business loans to go digital.
An applicant may apply for a business loan in Delhi by checking and comparing from the various business loans offered by the financial lenders.
Who is eligible for MSME loan?
Entrepreneurs, Start-up companies, Micro, small, medium enterprises, a company (be it private limited, limited liability partnership company, partnership or proprietorship from), etc is eligible for MSME loans.
How to get an MSME loan?
MSME business loans being instant business loans, an MSME has to upload the documents required for the business loans on the online website of the financial lender along with filled application form. And within a few working days, the MSME business loan is made available.
What is MSME loan eligibility?
MSME loan eligibility is that the company needs to be operative for more than six months, the applicant’s age to be at least 25 years, and investment in the manufacturing sector and service sector to be Rs. 10 crores or less and Rs. 5 crores or less respectively.
Solving Real problems
I have been running my business for over twelve years but have not been able to undertake expansion activities. I applied to Ziploan and they cleared my loan application in a very short span of time.
I approached Ziploan for an equipment finance loan because they required no collateral. Their eligibility criterion was easy to fulfill because it required only 2 years ITR and 10 lacs of annual banking credit.
I always thought that loans and credit facilities were only available to large businesses with significant turnover. I never thought I would be eligible to qualify for a business loan too. Ziploan is boon for small enterprises like me.
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