unsecured loan for business startup in india and How to Apply for Them

November 27, 2018 | Author: | Posted in Finance

The Business Loans are a good choice whether you wish to start a new business or to expand the existing business.

Are you a self-motivated entrepreneur whose passion is to turn your dream into reality? Are you looking at starting your own enterprise? Do you need a push to fulfill your passion? In that case, all you need is a loan for business startup.

In the current market scenario, Small to Midsized Enterprises are in constant need of funding to expand their productions, meet working capital requirements, or market their products and services.  Business funding loan, either from traditional sources (banks, non-banking finance companies (NBFCs), and government institutions) or from NBFC-P2P companies such as Faircent, can provide an ideal solution to meet such short-term capital requirements. These will partner with you to help you get started with your new business.

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Business loans can be either utilized to boost working capital or to gain a marketing edge. With a small business loan, you may look to open a new product line, launch an advertising campaign, add to inventory to meet seasonal customer demand, and so on. You can opt for short- or long-term business financing, whichever works well for you. The idea is that the wealth generated from such debt avenues should generate enough revenue for you to grow and rest should go towards repayment of the borrowed amount.

Banks are generally the first choice of most already established entrepreneurs when it comes to applying for loans. Their primary advantage lies in their convenience, especially for past customers. However, for start-ups, it is challenging to get a Business Loan approved with lower interest rates by these banking giants. While for them Peer to Peer lending platforms has brought up the best solution. These are catering to a huge demand for business loans by focusing on SME and start-up businesses.

With recent RBI guidelines and a positive economic outlook i.e. working in support of such enterprises, there is massive scope for start-ups to avail instant loans from such online lending avenues. Peer to Peer (P2P) lending platforms is facilitating business loans, which work well for both the lender as well as the borrowers. The loan application and eligibility procedures are modest, consumer-friendly and hassle-free. While competitive interest rates on business loans make them even more lucrative for borrowers. The EMI options are equally flexible, with minimal loan processing fees and absolutely no hidden fee. These features make NBFC-P2Ps most preferred choice of borrowers in the present market.

How to Apply for a Business loan?

You can either choose to visit a bank in-person or else you can apply online for an Instant Loan online. Nowadays, there is a plenty of online Peer to Peer (P2P) lending marketplaces through which you can avail a Loan for Business Start up. Faircent is one such leading online platform. All you need to do is sign up online by visiting the website from anywhere, anytime, and upload all the necessary documents. The regular credit check is followed up with on-time capital disbursal directly into borrower’s bank account.

Choose the most suitable option that matches your requirements!

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Faircent is promising P2P lending platform offering lenders above the market returns on the investment, while borrowers can enjoy low-interest rate loans pooled from various lenders altogether.

Author:

Faircent is India's first peer-to-peer (P2P) lending platform to receive a Certificate of Registration (CoR) as an NBFC-P2P from the Reserve Bank of India (RBI). Our mission is to provide a marketplace that connects individuals in need of credit with individuals and institutes willing to lend their access funds.

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