Panipat is one of the most important cities in Haryana as it is a major contributor and a source to its economy. Apart from all the history that it carries with, Panipat is the biggest producer of recycled yarn in the world. Many business trades have gained immensely from this place and show high projection for development as it is favourable in geographical conditions, infrastructure and wages.
Growing a business and maintaining it can be a hectic task which requires a huge amount of working capital. Sometimes you can fall short of current assets in fulfilling its current liabilities. Financial requirements can arise due to various reasons. Some of them include – renovation in offices, marketing your business, the increment in utility bills, payment to be made to the suppliers, loss in business, salaries to be paid, bills, loan EMIs, funds needed when there is a quick growth in business. These are some basic reasons which cause an imbalance in the current asset to current liability ratio. To overcome this problem, many financial service companies or NBFCs like Bajaj Finserv offers Flexi Business Loan in Panipat.

What is Flexible Business Loan?

Bajaj Finserv’s Flexi Business Loans are the most suitable source of financing for small business. They provide you with an ample amount of loan that you qualify for. Within the tenor and limit, you can avail the loan anytime you need and can withdraw any amount you need from the approved pool of funds. There is no need to submit a fresh loan application everytime you want and wait for a long to time to access your funds. These loans can offer up to Rs 30 Lakh, which is suitable for any small business to fulfil its financial requirements. One of the major advantages of Flexi business loan is that you do not need to pay interest on the whole amount given to you but only on the amount that you have used from the borrowed loan limit. A unique feature offered by the flexible business loan is that you get the option pay only the interest component as the EMI whereas the principle can be paid at the end of the tenor.

Why do you need a Flexible Business Loan?

Flexi loans are best suited when you can’t exactly anticipate the funds you need. For example, you opened a grocery store in Panipat and your shop experiences a surge in demand being in its growth phase. Suddenly there are a lot of demands from you consumers for various products, then to meet the requirement of your customers you have this urgent need to not only buy products but to also customize the area to keep your products in place. In this case, you will need a flexi business loan to help fulfil your unforeseen or sudden financial requirements.

How to avail a Flexible business loan?

Due to the progress in technology, even applying for a business loan has become hassle-free. You just need to fill up and submit your application along with your document online and your loan will take only about 24 hours to get approved. Further, with pre-approved offers you can get an instant approval on your Flexi Business Loan. This not only saves your time but also spares you from standing in long queues and filling out paperwork. The business loan eligibility criteria require you to be in the age limit between 25 to 55 years; your business vintage should be at least 3 years and have income tax returns papers.

One of the interesting points of Flexi business loans in Panipat is that these loans are a collateral free business loan. That means you are not burdened with submitting any kind of valuable asset to your lender for the approval of loans. This reduces the pressure and you can avail the loan within a day.
To help you expand or grow your business, NBFCs like Bajaj Finserv also provides MSME and SME loans at a low business loan interest rate. These loans are best suited for micro, small and medium businesses and moreover, you can take a loan up to Rs. 30 Lakhs. You just need to submit 2 documents and you can get an approval of the loan in just 24 hours.

Author's Bio: 

I am a Financial Advisor with an experience of more than 7 years.I had worked for top Financial Firms in India and has been a visiting faculty at many reputed institutes. I have done my post-graduate in Business Economics, from Princeton University, USA. During my free time, I teaches children from marginalised sections of society and also work on my Blog.