Here’s How Freelancers Can Avail Easy Business Finance

As per a report by a leading newspaper it is predicted that by 2020, 50% of the country would be freelancing. But, since the 80% of this population falls in the 21 to 39 years age category they might not have adequate funds to start with or manage their business. 

The best option is - loan against property. If you look at it from a logical point of view this is a lucrative finance option which helps loan seekers avail funds against a fixed asset. This is a secured loan in nature so it can be availed at a lower mortgage interest rates. Thus, making it easier to pay off in the long run. 

Let’s know more about how the loan can help you build or run your freelance career - 

> Value of Property: In order to secure a substantial loan amount for your business the best way is to pledge a collateral which is - free from any litigation, does not have any existing loan on it, has all the relevant paperwork, and holds a good value,to the vehicle in your freelancing business the value of everything ge

> Tax Benefits: Right from the equipments you use for works depreciated. As a business owner you can claim a small portion of the value of these assets as a deduction from your taxable income everey year. Though, the value of claim will depend on the value and rate of depreciation of the asset. Similarly, you can claim tax deductions for overhead expenses such as internet bills, telephone bills etc. while filing your tax returns. 

To know more about it, read here: How to get Finance via a Loan Against Property as a Freelancer