Know about the Finance and Investments Terms

Traditionally, Raipur's economy has been dependent on agricultural-processing and saw-milling. With advancements in technology it witnessed a boost in industrialization with manpower flocking from all parts of the country to work and settle. In view of this, major NBFCs offer custom business loan in Raipur for entrepreneurs to manage various financial obligations. 

Let’s take a look at some of the things you can take care of to avail business loan of your choice. 

Credit score

Have a healthy credit score of 750+ or more to avail high value loan of up to Rs. 30 lakhs at an affordable rate of interest and flexible tenure of 2 to 20 years. Besides, having a good credit score will give you a chance to negotiate loan terms with the lender. 

Eligibility criteria

Know about the eligibility criteria of the loan from the lender’s website or their Relationship Manager. Usually, this criteria is not so tough to meet and upon qualifying you can obtain preferable loan amount to suffice your business's financial needs. 

Paperwork

One can easily apply for the loan online at the lender’s official website. This is a hassle-free process which does not require elaborate paperwork. Being unsecured in nature it can be obtained without having to pledge any collateral/ security/ guarantor. 

Repayment options 

Major NBFCs provide the security-free business loan on easy repayment terms. Known as the Flexi loan facility it lets the borrower withdraw as per their need from the loan amount sanctioned on a daily basis. It charges interest on these daily withdrawals thus lowering the EMIs by up to 45% and helping you better manage the finances.

Also Read: A Guide to Getting a Business Loan in Raipur