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Know everything about commercial loans in India

In India, you can easily start a company by raising funds. As a business owner seeking funds, you may come across a wide range of loan products in the market. A commercial loan is one such financing option. In this article, let us look at what a commercial business loan is, how it works, and what documents are needed to avail of this loan.

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Know everything about commercial loans in India

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  1. Know everything about commercial loans in India

  2. It is used to finance capital expenditures in businesses. You must repay it over time, with interest. What do commercial loans mean?

  3. Helps companies meet short-term capital needs. Loan terms are prespecified. Understand the working of commercial loans

  4. Different types of commercial loans available in India

  5. Available for a specific period, usually 12 to 36 months. Term loans

  6. If your account balance reaches zero, you can still withdraw funds up to a certain limit. Overdraft facility

  7. It's a bank guarantee to the seller. If the buyer fails to make a payment, the bank will be held liable. Letter of credit & bank guarantee

  8. Funds are available without pledging any security. Unsecured SME loans

  9. Secured loan used to buy construction equipment. Construction equipment loans

  10. Small businesses can use this to meet credit needs. SME credit card

  11. Used to purchase vehicles needed for business. Commercial vehicle loans

  12. Indian national between 21 and 65 years. Business must be operational for at least a year. Must have high turnover and steady revenue. Eligibility requirements for commercial loans

  13. KYC documents and income proof Documents required for commercial loans

  14. Commercial loans are available in customised forms to meet different business needs. Before applying for one, keep the above pointers in mind.

  15. Thanks! Would Love to hear from you. Hero Fincorp Limited 09, Basant Lok, Vasant Vihar, New Delhi - 110057 Tel : 18001024145 Email : corporate@herofincorp.com Website :https://www.herofincorp.com/ Know More : What are commercial loans in India

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