What is a Business Loan?
There comes a time in every business when there is a need for extra credit and funds for its smooth functioning. These funds help you, the business owner, to expand, invest and help in your working capital needs. At times like these, a quick business loan is the best financial aid that can help you grow.
This borrowed capital can be applied towards daily capital expenses, for specific project funding, expansion of the business including purchasing of new machinery for the business. You can also apply to take a loan for business if you need investment for starting a new business or ancillary units for your existing business.
How to apply for a Business Loan?
Any business entity or owner can apply for a business loan. Before you apply for a business loan, you need to understand the basic purpose of this loan and how you intend to utilise it. Here's a list of the basic documentation you will need to submit:
Applying for a business loan has its advantages:
Are you eligible for a Business Loan?
To be eligible for a business loan, these are the points you need to keep in mind:
Check your eligibility using a business loan calculator.
What are the business loan interest rates and the maximum amount of loan one can take?
With Tata Capital, you can apply for a loan starting at Rs 3 Lakhs. The maximum amount you can apply for is Rs 50 Lakhs, without any collateral of guarantee.
Tata Capital offers you the best fixed interest rate that is suited for your company and does not dip into your monthly cash flow. Our business loan interest rates range between 18% to 24%, depending on your requirement.
How much EMI do you have to pay?
Tata Capital offers you the option of Flexi EMI Options, where you get to choose how much EMI you wish to repay per month, depending on your monthly cash flow. You can choose from:
To know more about how much EMI you will need to pay, use our business loan calculator.
What are the documents you need?
To avail a business loan, you will need the following documents:
Check the complete list of business loan documents required.
Why Tata Capital?
Running a successful business is not an easy task. There are always ups and downs that you, as a business owner face. We, at Tata Capital, understand that meeting every financial need is not simple and sometimes you do need a helping hand.
We take special pride in being that institution that can help you when you need help the most. We also give you the option of choosing what kind of loan you would need. This helps in routing that fund in the right direction and give you the boost you need. Be it project funding, the working capital requirement for raw materials purchase, term loans for machinery or bank overdraft, we have the solution that you are looking for.