According to The Economic Times, MSME credit amounts to around 35% of the total credit exposure to all businesses. This is not surprising, as medium and small enterprises form the backbone of the country’s economy. Whether you belong to the manufacturing sector or render services, possessing ample funding is crucial to sustaining operations and turning a profit. One option you have is to take an MSME loan through a lender such as Bajaj Finserv. Among the different sources of financing available, an SME loan is a good option as it guarantees ample, timely funding.
These customized loans given by Bajaj Finserv, through its lending and investment arm Bajaj Finance Ltd, can give your business the much-needed boost to help your enterprise scale new heights with enhanced competitiveness and profitability. To understand its benefits in detail, read on to know how you can utilise a Business Loan from Bajaj Finserv:
Install new equipment and machinery with a substantial loan amount
As opposed to newer financing avenues such as crowdfunding, regular business loans assure you of a large amount of capital. Bajaj Finserv, for instance, gives you access to funding of up to Rs.30 lakh, which you can use to tend to all your business needs. Ample financing is necessary for when you want to revamp your supply chain by investing in a plant, and machinery or equipment. To illustrate, if you manufacture leather products you can utilise the finance to purchase leather processing units, shoe sewing units and cutting machines to improve the quality and quantity of shoes, bags and other merchandise you offer to the market.
Cater to seasonal business needs and opportunities with hassle-free financing
In order to run your business successfully, its vital that you are attuned to market trends. Moreover, you must have the right funding, at the right time, to be able to capitalise on opportunities. Therefore, the funding source you opt for should offer financing in a timely manner. This ensures that you can take up bulk orders and make the most of the peak season demand. When you opt for a Business Loan from Bajaj Finserv offers financing without collateral. This frees you of the burden of pledging an asset. In combination with simple eligibility and minimal document requirements, it results in swift disbursal that helps you leverage opportunities that come your way.
Ensure sufficient liquidity with the Flexi Loan facility
Whether its peak season demand or an unforeseen liquidity crunch owing to delayed payments, managing your cash flow is crucial to ensuring that your supply chain doesn’t run dry. When you take a Business Loan from Bajaj Finserv gives you the option of signing up for a Flexi Loan that’s tailored to address urgent and unexpected financial needs. A Flexi Loan allows you to borrow multiple times from your sanction and you incur interest on the amount withdrawn only. Moreover, you can choose to pay interest-only EMIs through the tenor and repay the principal at the end, for added flexibility.
Chalk out a profitable expansion plan by borrowing at a viable rate
When taking a Business Loan, it’s important that you plan for repayment. Business Loans offered by Bajaj Finserv start at an interest rate of just 18%, and by borrowing at a cost-effective rate you can not only enhance your current setup, but also tap into new and upcoming markets with equal ease, be it securing the necessary licenses, building a warehouse for inventory or establishing a distribution network.
Once you forecast revenues and have planned for repayment, be sure to check your pre-approved offer from Bajaj Finserv before you apply. Use it to secure instant approval through a customised deal and enjoy speedy, 24-hour disbursal.
About Bajaj Finance Limited
Bajaj Finance Limited, the lending arm of the Bajaj Finserv group, is one of the most diversified NBFCs in the Indian market catering to more than 36 million customers across the country. Headquartered in Pune, the company’s product offering includes Consumer Durable Loans, Lifestyle Finance, Digital Product Finance, Personal Loans, Loan against Property, Small Business Loans, Loans for Professionals, Home loans, Credit Cards, Two-wheeler and Three-wheeler Loans, Commercial lending/SME Loans, Loan against Securities and Rural Finance which includes Gold Loans and Vehicle Refinancing Loans along with Fixed Deposits. Bajaj Finance Limited prides itself on holding the highest credit rating of FAAA/Stable for any NBFC in the country today. It is also the only NBFC in India with the international ‘BBB’ with stable outlook for long-term, by S&P Global Rating.
To know more, please visit: https://www.bajajfinserv.in