New Delhi [India], September 27 (ANI/BusinessWire India): Maintaining the competitive edge through expansion is vital for small businesses.
According to a recent survey, 82 per cent of small businesses get stuck because of low working capital, whereas, 55 per cent of small business owners stated that maintaining a cash flow is the biggest challenge to growing their businesses.
The rightMoreover, funding is needed to accelerate the growth of the market and increase profits and revenues. To expand their business, growing small businesses need access to sufficient funding.
Many banks and NBFCs offer loans to businesses for the purpose of expanding. NFBCs such as Ziploan offers small business owners hassle-free loans at competitive interest rates.
By assisting MSME businesses with the additional capital they need to grow, Ziploan continues to strive to achieve its goals. With the Ziploan business loan, it becomes quick and easy for slow-moving companies to thrive.
For MSME business owners, Ziploan offers up to Rs. 7.5 lakh in MSME loans. Once all the required documents have been submitted online, business owners can apply for an easy business loan within just 3 days.
Learn more about business loans for MSMEs:Quick disbursement of fundsMSME business owners can easily apply for a new business loan by visiting Ziploan online, or even by using the mobile app. All they need to do is: Complete the business loan form with the essential details Submit all required documentation Get approved and get a loan disbursement within three days (Moreover, Ziploan offers same-day policy approvals and same-day disbursals as well).
If the businesses owner passes Ziploan's eligibility and credit checks, then the fund will be disbursed directly to their bank account and can be used in a number of ways, such as for an emergency, big projects, etc.
Loans for small businesses up to Rs 7.5 lakhsHowever, upgrading an existing business can also be considered as a way to grow or expand the business. These include buying new equipment, improving cash flow management, and expanding the customer base.
A business loan of up to 7.5 lacs is available with Ziploan'sFlexible tenure for easy repaymentZiploan repayment tenure ranges from 12 to 36 months to ensure that repayment doesn't become a burden. Business owners, therefore, have plenty of time to repay their MSME loans.
Ziploan'sAdditionally, Ziploan provides MSME loans for no prepayment charges after the first six EMIs are paid (excluding pre-EMIs).
Minimal documentation and simple eligibilityZiploan offers simple business loans that are easy to qualify for. A business owner can qualify for a business loan from Ziploan if they fulfill the following criteria: Founded more than two years ago, an established MSME.
The previous year's turnover must have been at least Rs 10 lakhs.
There must be no default history for the business.
It should have been more than Rs. 1.5 lakhs in income tax filing.
Ownership of a house or business is required for the borrower.
To apply for a business loan, one must meet the eligibility criteria which is a hassle-free and straightforward process.
The following documents are required for MSME loan applications: Identification documents Proof of residential address Proof of financial standing Evidence of ownership of the businessThis story is provided by BusinessWire India. ANI will not be responsible in any way for the content of this article. (ANI/BusinessWire India)