Loan Service Providers in Kalpana Square, Bhubaneswar

What is an Unsecured Business Loan? The growth and sustainability of a business depends on the continuous inflow of funds. The funds might be required to expand the business or purchasing equipment. The funds can be borrowed in the form of a loan from banks and other financial institutions. Business Loans are typically unsecured in nature which means no collateral or security is required to borrow a loan. Business Loan is a debt provided to the company or the self-employed professionals or business owners that are to be repaid along with the principal amount. The rate of interest is usually pre-determined by the lending institutions. A Business Loan in India is offered at competitive interest rates, with a low processing fee, and without any security or collateral. Several leading banks and NBFCs including HDFC Bank, ICICI Bank, Capital First, Citibank, Fullerton India, Tata Capital, and so forth are offering business loans. Types of Business Loans Some types of Business Loans are explained below: Term Loans: Term Loans could be used for business expansion or capital infusion requirement of an organization. Generally, a term loan is the loan offered for the acquisition of long-term fixed assets including land or building, machinery, and other business needs. The interest rate can be either fixed or floating and are usually have a fixed repayment schedule. Special Business Loan Scheme for Women Entrepreneurs: Today banks are offering attractive business loan scheme for women entrepreneurs at low rates of interest. However, women entrepreneurs who have business ownership of less than 50% are not eligible for special loan schemes. Working Capital Loans: These types of loans are offered to meet the daily operating expenses of the business. These loans can be further classified as secured and unsecured loans.

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