3 Steps to Applying for an Online Business Loan - Business Loan Blog - Tata Capital

Apply for a Business Loan in Only 3 Steps

Mar 06, 2017

Tata Capital offers finance to businesses seeking capital to fund their operations. The financial institution helps small, medium, and large companies grow their business. It offers funds through numerous debt instruments like term loans, working capital loans, and overdrafts, besides others. Through such debt instruments, applicants may obtain the necessary finance required to achieve their business goals.

Tata Capital offers numerous benefits to loan seekers, such as competitive interest rates. Applicants may, therefore, apply for a loan at reduced rates and make significant savings through lower monthly installments. The financial institution also provides exclusive pre-approved offers to businesses based on their eligibility. Additionally, Tata Capital does not require collateral or a guarantor against the loan. Applicants may choose from flexible repayment options based on their business' cash flow. Business owners may apply for a loan from Tata Capital in the following three simple steps.

1. Check loan eligibility

Firstly, the applicant must check whether he meets Tata Capital's eligibility criteria for business loans. The loan applicant must be between 25 to 65 years of age. The business should also be making a profit for the past three years. Tata Capital also requires the business to have a good turnover, which does not depict a declining trend over the past one year.

2. Select the loan amount and tenure

Upon meeting eligibility criteria, the next step is to select the amount and the term of the loan. Tata Capital offers business loans from INR 3 lakh up to INR 50 lakh, without any collateral requirement. Besides, the loan may be repaid over a period ranging from 12 months to 36 months. Such extended loan tenure helps businesses repay the loan amount over a longer period of time, thereby reducing any financial constraints.

3. Submit the application

The application has to be submitted online after the applicant has entered the loan amount and selected the tenure of the loan. Tata Capital verifies the applicant's details and processes the loan application. The loan amount is then disbursed into the preferred account within three days.

Due to such a simplified process, Tata Capital loans have become a popular option for many businesses. Entrepreneurs may use the loan amount to fund a start-up venture, for meeting daily operations, as well as for business growth and expansion activities. However, entrepreneurs must evaluate the finance requirements of the business and borrow accordingly. They must also read the terms and conditions of the agreement before signing on the dotted line. One of the main advantages of opting for a loan from Tata Capital is that applicants can rest assured of associating with a well-known and reliable financial institution. By availing of a Tata Capital business loan, applicants may take their business to new heights of success.