A regular cash flow is essential to keep a business functioning smoothly at all times. Sometimes this cash flow takes a hit due to unfavorable market conditions or when monthly sales do not hit their targets. In such times, how does one keep the enterprise afloat without falling into a debt trap?
A Working Capital Loan is the answer to this question.
Working capital finance is primarily meant to be utilized in the daily operations of an enterprise and not for the purchase of long term assets like machinery and industrial equipment. Business owners can apply for these loans online as almost all popular lenders accept online applications through their web portal. This has come out to be highly advantageous when compared to the previously prevalent practice of visiting banks in person and waiting in queues to get things done.
Before applying for a working capital loan, you should research well on the lenders, their schemes, eligibility criteria and documentation requirements.
With the right lender for a working capital loan, you can:
- Borrow a principal of up to Rs 30 lakhs
- Avail a lower interest rate
- Repay your loan in convenient EMIs as per your repayment capacity
- Benefit from minimum documentation hassles
- Borrow funds without any collateral
- Get the funds in just 72 hours
- Manage your loan account online
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