Looking for funds to fuel your business can be a challenging task. Nevertheless, it offers numerous benefits to business borrowers to increase their working capital. This in turn, acts as a catalysts for business growth and expansion. To get your refinancing process easy and fast with low Interest Rates for Loan Against Property, and also to get the best value with good credit score.
So, to help you find the cash you need for your business here are few things to consider.
#1 Re-evaluate your business’s profit and loss sheets. Let your chartered accountant look for areas which need urgent cash from the ones where unnecessary money is being directed to, avenues for cost cutting, etc. Thus, build a focused budget for your business.
#2 Check for existing debts. These can be machinery bought, credit cards, retail cards, dues to be paid to workers and so on. Ensure to take these into consideration while you apply for the loan.
#3 Future plans of your business. Yes, it may sound a little too much to work out on paper. But in the long run it will allow you to keep aside miscellaneous money to either expand your business to new city, start new business operations, hire new staff and accomplish much more.
To acquire instant funds to increase the working capital of your business you can consider opting for a loan against property. It will help you liquify your fixed assets and secure loan to run your business operations smoothly.
Lenders usually offer up to 70-80% of the property value as loan which can be up to Rs. 3.5 crores. NBFCs understand your need for the loan and offer easy repayment duration of 2-20 years to help you pay it off. Along with the Flexi Hybrid option. A unique feature, it helps you pay just the interest on the loan amount utilized. Thus, allowing you to lower your EMIs by up to 45% and better manage your finances.
Also Read over here: Necessary Guidelines You Must Follow to Refinance Your Business
Loan Against Collateral 