Business Loan Advantages & Types
Acquiring a business loan can solve many financial problems that business owners face in the extremely competitive world. However, it is imperative for you to do your research prior to applying for a commercial loan as there may be some hidden costs associated with it. At Tata Capital, we believe in complete transparency and to help you make an informed decision, we have put together the advantages and types of business loans we offer.
Business Loan Advantages
With Tata Capital loans for business, you can leverage the following benefits:
- No Guarantors and No Collaterals - Our business finance options enable you to avail a loan without any guarantor or collateral.
- Flexi EMI Options - At Tata Capital, you get the flexibility of choosing from three different repayment options: Step Up, Step Down and Bullet as per your cash flow.
- Pre-approved Offers - For existing customers, we regularly provide exclusive pre-approved offers on business loans as per their eligibility.
- Online Account Access - Every information regarding your business loan can be conveniently accessed online. You can keep a check on interest certificate, repayment track, payment schedule etc. simply by logging in on our website using your loan account number.
Business Loan Types
There are three different types of business loans to facilitate cash flow as per business requirements. These are categorized as:
- Term Loans: These are short-term, long-term and intermediate loans varying in tenure from 3 years (short-term) to 10-15 years (long-term).
- Overdrafts: This one is a temporary loan, wherein the account holder overdraws from his current account as per agreed terms.
- Working Capital Loans: These loans are availed to meet day to day financial requirements of businesses.
By applying for a business loan with Tata capital, you can facilitate the business operations without worrying about a cash crunch at challenging times.