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Business Loans Consultant
Loan given to self-employed, professionals or company without any collateral security is called a business loan.
The sanction of business loan is based largely on the creditworthiness of the borrower and the firm. The bank or the financial institutions will first take a look at your firm’s and your credit score and analyze your credit rating before offering loan. They will also look at your financial statements for the past 3 years, bank statements, Nature of business, its current and expected returns and the market trend.
The loan amount could be from Rs. 50000 to Rs. 75 lac and the tenure would be between 1 to 3 years.
At ACE Consultancy, we are the experts in helping you avail the best business loan with customer friendly terms.
Businesses need money for several reasons, right from working capital needs to expansion plans to opening up a new branch or for innovation in the existing business.
- Self Employed Individual
- Professional Individual
- Company
- Working Capital requirement
- To fill short term financial requirement
- Business Expansion
- To set up new business
- Launching a new Product
- Advertising & Marketing of Products & Services
- 50k to 75 Lac
- 1 to 3 yrs
Business Loan FAQ
A. The word Unsecured Business Loan means when a self-employed person apply for a loan based on his income not providing any kind of security against the loan.
A. It takes 7 working days once documentations are completed
A. No in unsecured loan generally banks don’t allow joint application..
A. No need of giving any security apart from security cheques.
A. Processing fee in business loan varies bank to bank, normally it's start from 2.00% to 3.00% of loan amount.
A. EMI stands for Equated Monthly Installments. This installment comprises both principal and interest components. EMI is based on the loan amount, rate of interest and the repayment period.
A. In business loan bank do offer loan for 1 year to 3 year.
A. Surly prepayment can be done after 6 months from the date of loan taken & bank will charge 3.00% to 4.00% penalty. Part-payment is not allowed in business loan.
A. Taking a business loan fulfills your urgent requirement of working capital in business.
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