Launching any kind of business whether big or small-scale requires adequate funding. As without enough working capital the business cannot reach its full potential. Keeping this in mind, leading lenders such as NBFCs offer finance on fixed asset such as your property.
Let’s know more about the loan here -
You can apply for the loan online with minimum paperwork. But, it must be kept in mind that the property must be free from any litigation and does not have any existing loan on it. This helps to acquire up to 60-70% amount of the property as loan from lenders.
This is an all purpose loan and can be used to cater to several financial obligations which includes managing your startup. You may use the funds to hire new staff, buy raw materials, upgrade to latest technology, scale up business operations, consolidate business debt and much more.
Additional Read: How to apply for a Loan Against Property for Business Startup?
But before you apply for the loan make sure to compare various loan offers online. This will allow you to choose the option which best suits your business needs. You may use the EMI calculator available at the lender’s official website. It will help you evaluate your loan better and easily pay it off in flexible repayment tenure ranging between 2 to 20 years.
Whereas, as an existing customer one can take advantage of the Balance Transfer Facility. This is a hassle free process which lets you transfer the existing loan to a lender offering lower rate of interest. Thus, reducing the monthly payout balance and letting you manage the loan better.
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Alisha Antil is your best financial helper for insurance. She has a vast experience in finance and insurance and provide to you the expert advise in insuring your property and health.
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