1 / 12

What Are the Benefits of Unsecured Loans for Your Small Business?

Have you been thinking about applying for an unsecured business loan to get your business going? If yes, then read this blog to know the benefits that you can reap by applying for the same.

HeroFinCorp
Download Presentation

What Are the Benefits of Unsecured Loans for Your Small Business?

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. What Are the Benefits of Unsecured Loans for Your Small Business?

  2. Introduction • In India, Small And Medium Businesses (SMBs) Generally Need Collaterals Or Assets As A Guarantee To Get Loans • Taking A Loan From The Informal Lending Sector, Instead, Entails One To Pay Higher Interest Rates That Dent One’s Profit Margins • Unsecured Loans Have Now Become Possible Without Collateral For SMBs • Here Are A Few Benefits To Enjoy With An Unsecured Business Loan

  3. No Collateral Needed • Unsecured Loans Do Not Require Any Collateral Or Security • In Case The Business Does Not Work Out Or Face Problems, The Owner Need Not Worry About Losing Assets Or The Business.

  4. Minimal Qualifying Criteria • Even Though The Qualifying Criteria For Unsecured Business Loans Are Less Stringent, You Will Need To Prove That You Have A Stable Monthly Income • You Need To Furnish The Last Six To Twelve Months’ Financial Statement • You Also Need To Provide Your Permanent Account Number (PAN) Or Unique Identification (UID) Number • If You Can Provide These Details, The Chances Are High For You To Get An Unsecured Loan

  5. Quick Funding • As The Lender Doesn’t Need Many Documentary Evidences, A Small Unsecured Business Loan Is Offered In No Time • The Approval Process Is Simple, Streamlined, And Convenient • You Can Also Fill In The Loan Application Online, Which Helps You Save A Lot Of Time And Effort

  6. Larger Loan Amounts • You Can Apply For A Larger Unsecured Business Loan, As No Asset Acts As Collateral And Limits The Loan Size • But For A Secured Business Loan, You Will Only Get An Amount That Matches The Value Of The Collateral

  7. Flexibility • Financial Institutions Require You To Pay Back The Loan Amount In Fixed Monthly Instalments In A Limited Time-frame • At Times, Paying Back The Loan Amount Proves To Be A Challenge, Even If You Qualify For The Credit • An Unsecured Loan Could Be An Ideal Solution Because These Lenders Also Offer Flexible Payment Solutions

  8. Long-term Relationships • For Small Businesses, Some Financing Arrangements Make Money Available On A Revolving Basis, Known As Unsecured Line Of Credit • These Boost The Confidence Of Lender As The Borrower Has To Pay Consistently • Once The Borrower Pays Back The Loan, The Lender Could Then Be Encouraged To Give The Borrower A Loan Greater In Size

  9. Fewer Restrictions • You Can Use The Amount, Availed Through An Unsecured Loan, For Any Purpose • Be It Starting Or Expanding A Business, Or Acquiring Assets, Or Using It For Working Capital, You Can Invest This Money Without Any Restrictions

  10. Less Paperwork • Unsecured Business Loans Require Less Paperwork • You Just Need To Send A Fax Or An Email Of The Scanned Copies Of Their Last Six Months’ Financial Statements To Avail An Unsecured Business Loan • For Online Application, You Need To Fill In Some Basic Information Along With The Details, And Right After, The Lender Would Transfer The Money Into The Account Of The Borrower

  11. Conclusion • Unsecured Business Loans Are Emerging As The Saviour For MSMEs • With All These Benefits And Easy Availability, You Need Not Worry About Investing In Your Business Any More • An Unsecured Business Loan Is The One-stop Solution Of All Your Money Problems

  12. Thank You !Would Love to Hear From You Hero FinCorp Limited 09, BasantLok, Vasant Vihar, New Delhi - 110057 Tel. 18001024145 Email Id: Corporate.Care@HeroFinCorp.com Website: https://www.herofincorp.com/ Know more- What are the Benefits of an Unsecured Loan for your Business?

More Related