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Setting up one’s practice takes up not just a lot of time but money as well. In such a scenario, a loan for chartered accounts can help in overcoming the initial cost overheads and expansion related expenses.

There are a number of lenders including NBFCs (Non-Banking Financial Institutions) available today who offer chartered accountant loans of up to Rs. 35 lakh with easy eligibility criteria, quick processing time, and convenient repayment period. All this has to lead to these loans becoming highly popular.

Some of the prominent reasons for availing these loans include –

·  Increase working capital

·  Hiring more experienced staff

·  Meeting payroll and daily expenses

·  Introducing the latest technology in your practice

·  Purchasing new assets for the business such as land, accounting software, computers, etc. 

Some of the benefits of chartered accountant loans are –

Finances to Meet Business Needs

The financial needs of every firm are unique depending on the practice of the firm and its requirements. With a loan of up to Rs. 35 lakhs you can meet all of those requirements. There are no restrictions or limitations on its usage and are unsecured too. This means that no asset needs to be pledged for obtaining the loan.

Easy Repayment

Most lenders allow up to 60 months for repayment of the loan. However, the period of repayment can be chosen based on your convenience so that you can devote more time to your business.

Online and Quick Disbursal 

The application process offered by most lenders is online. This means that you do not have to make trips to the office. Also, being online, the documentation means the documentation also reduces to a bare minimum. If approved, the loan can get disbursed very quickly to your bank account.

Also Read: What are the Benefits of a Chartered Accountant Loan for Self-Employed CA?