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Tata Capital > Blog > Loan for Business > What Are the Benefits of Getting a GST Business Loan?

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What Are the Benefits of Getting a GST Business Loan?

What Are the Benefits of Getting a GST Business Loan?

Whether you want to launch your business or expand on an already established one, you need a steady flow of funds. Capital is the very grease that runs the engine of your company. No wonder why countless organisations, big or small, depend on business loans.

Within the gamut of loans for business, there is another shining beacon not many know about. We are talking of GST business finance.

Moreover, you can get this loan by showing your GST returns and a few other documents. Want to know more about the advantages of availing this type of finance? Well, then read on.

Benefits of GST business loans

You get substantial credit without pledging any collateral

GST business finance is unsecured, meaning you don't need to pledge a guarantee or asset as collateral against the amount borrowed. Simply show your GST returns, attest your KYC, residential, and business details and you are done.

Purchase machinery or other equipment without any delay

Lenders are quick to disburse business loans for purchasing. So, if there is machinery and equipment you need to buy urgently to rev up production, you can apply for GST business finance. You can also take this loan for introducing new technology or boost automation to meet the seasonal demands for your product.

Additional Read: Why You Need to Get Your Business GST Verified?

You get to keep control of your company

While there are alternate options to raise capital for launching or expanding your business, like VC funding or angel investments, these entities also get some controlling stake in your company. This stake is not only of profit share, but investors often get a vote in your decision-making process.

But, when you avail of business finance, your lending institution only provides funds and nothing else. You get to keep complete control of your business without intervention from the lender.

Never run out of working capital

You need funds for fulfilling routine business expenses like settling monthly dues, bills, purchasing raw materials, and other supplies. However, sometimes you might run short on daily cash flow, which may delay necessary business purchases. Avoid this by availing of a GSTbusiness loan and maintain regularity and timeliness in your operations.

Repay older loans

If you have other loans you took for your business, you can pay them off using GST business finance. Do this only if you get the new loan at a lower rate of interest. Such a thing is called refinancing a loan, where business owners switch lenders for a lower ROI than their present lending institution.  

Additional Read: Best Ways to Repay Your Business Loan Faster

Final thoughts

Timely applying for business finance can genuinely turn your company around. If you are in the market for a loan for your business, turn to Tata Capital! We offer customisable finance at attractive business loan interest rates along with minimal documentation.

Enjoy quick disbursals and flexible repayment terms. Before applying for the loan, make sure to glance through our relaxed business loan eligibility criteria.

So, what are you waiting for? Log on to our website today!

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