If you’ve heard of this phrase, you know that progress is only achieved if one can continue to grow and innovate. Every businessman knows that stagnation of profits is a death-knell for his business. In this competitive world, a businessman must always keep innovating and focusing on growth. One must constantly seek to increase sales and expand operations. Capital is one of the most crucial components that aid in the expansion of a business. But capital can prove to be a hurdle in the case of small businesses.
Large corporations have various sources of raising capital like the stock market, line of credit and bank loans. Small businesses and MSME’s often struggle to raise capital. Unlike established companies, they may not have the requisite credit history or the documentation to satisfy the criteria used by large banks.
ZipLoan is an RBI registered NBFC which is working on financial inclusion for small businesses. ZipLoan understands the needs of small businesses and provides business loans at very attractive terms.
Some of the features of a business loan from ZipLoan are:
- Amount: The loans are provided for an amount ranging from Rs. 1-5 lakhs.
- Tenure: The loans are provided for a period ranging from 12-24 months.
- Collateral Free: The loans are offered without any security. This is an advantage because small businesses often do not have collateral to raise a loan.
TYPE OF LOANS :
ZipLoan offers the following types of loans:
1. Working Capital Loan:
Working Capital is very important primarily for traders because they constantly adjust their inventory based on market trends. Without adequate Working Capital, operations can come to a standstill. ZipLoan offers Working Capital Loans which are particularly beneficial for small traders.
2. Equipment Finance Loan:
Expanding operations is necessary for small manufacturers so that they are able to play on an even footing with their larger competitors. For this reason, ZipLoan offers Equipment Finance loans to aid in the long-term expansion of a business.
WHY CHOOSE ZIPLOAN FOR A BUSINESS LOAN:
You may be wondering what differentiates ZipLoan from various lenders.
The advantages of taking a business loan from ZipLoan are:
1. Online Application :
The application process for a loan is entirely online and one need not make inconvenient personal visits. One can apply through our website or download the ZipLoan App from Google Play store.
2. Minimal Documentation :
We only require the ITR for the last year and annual banking credit statements for a loan application.
3. Holistic Credit Rating :
We do not follow only CIBIL norms for the purposes of credit rating. Instead, we have our in-house rating process called ‘Zipscore’ which provides a more accurate credit assessment. This also ensures that we can cater to those small businesses which may not have a high CIBIL score.
4. No Prepayment Penalty :
Penalty is not levied for partial or complete payment of loan before completion of tenure.
5. Fast Disbursal :
Our loans are typically disbursed within 4 days of submission of documents. This ensures that businesses can avail finance when they need it most.
Our aim is to provide the necessary financing to small businesses so that they can grow and remain competitive in the market. Click here to apply for a business loan from ZipLoan.
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