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A Guide To Working Capital Loans For Your Business

It's lean season and your costs have leapfrogged your revenue. You are scrambling to keep your business afloat by trying one desperate measure after another, but things are only getting worse. You need to stop. Take a breath. Look at working capital loans. They are specifically meant for financing your business's day-to-day financial requirements and will help you through this phase.

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A Guide To Working Capital Loans For Your Business

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  1. A Guide to Working Capital Loans for Your Business

  2. Introduction In Businesses, There Can Come A Lean Phase Like An Off-season Or You Need To Use Your Savings For Expanding The Business. In Such Situations, A Working Capital Loan Can Help You Maintain Stable Operations.

  3. Types of Working Capital Loan

  4. • Secured: Here, The Lender Charges A Percentage Of The Sales In Lieu Of Capital Lent In Advance.

  5. • Unsecured: These Loans Have No Collateral Involved And They Have Small Repayment Window Of 6-18 Months With Slightly Steeper Interest Rates.

  6. • Working Capital Demand Loan: Here, You Can Withdraw Funds Any Time, Up To The Credit Limit Set By The Lender, And You Repay Only What You Withdraw With Interest.

  7. The Pros Of A Working Capital Loan

  8. Meet Short Term Requirements: Working Capital Loans Are Quickly Disbursed In A Hassle-free Manner.

  9. 2. Maintain Cash Flow: These Loans Provide Companies The Financial Strength During Any Urgent Or Unexpected Needs.

  10. 3. Facility for Line of Credit: This Benefit Enables The Owner To Withdraw The Amount According To Their Needs And Pay The Interest On The Amount Withdrawn.

  11. 4. Ownership Is Preserved: Working capital loans don’t require you to part with any ownership rights.

  12. How to Qualify for a Working Capital Loan? • The applicant should be running the business for at least 3 years. • The business must prove its profitability as per industry norms. • The applicant needs to submit audited financial statements of the last three years, necessary licenses, and the profiles and KYC of directors and partners in the company.

  13. These Loans Are Quickly Financed And Come With Flexible Repayment And Interest Rates. However, One Must Collaborate With The Right Lender With Experience In Funding Small-term Requirements.

  14. Thank You !Would Love to Hear From You Hero FinCorp Limited 09, BasantLok, Vasant Vihar, New Delhi - 110057 Tel. 18001024145 Email Id: corporate.care@herofincorp.com Website: https://www.herofincorp.com/ Know more about- A Guide to Working Capital Loans for Your Business

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