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What are the Benefits of Getting a GST Business Loan?

Darsh Sharma, a sole proprietor, runs a general store at one of the posh locations in Noida. Now, he wants to expand his business by setting up a new outlet in his hometown, Moradabad. However, his plans of availing of small business loans from a reputed financial institution did not work out. Plus, he does not have any assets to put up as collateral and his shop is rented space. This is when one of his acquaintances suggested taking a loan based on the GST filings. Surprised by the suggestion, Darsh is now interested in learning more about GST business loans. If you too are interested in GST

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What are the Benefits of Getting a GST Business Loan?

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  1. What are the advantages of a GST business loan?

  2. What does a GST business loan mean? • It is an unsecured loan that is sanctioned based on your GST returns.

  3. How do GST business loans work? • Before approving the loan, the lender evaluates your audited financial statements. • You must repay your principal loan amount along with interest over time.

  4. Advantages of obtaining a GST business loan • Does not require any collateral. • Disbursed quickly due to minimum paperwork. • You can effectively manage your business by acquiring funds whenever you need. • Can be used for several purposes.

  5. When to opt for a GST business loan?

  6. Working capital needs • Take this loan to manage your working capital cycle.

  7. Financial papers are not available • Choose this loan if you have a GST return invoice, but a few of your financial documents are missing.

  8. Who can take GST business loans? • Public limited companies, private limited companies, partnership firms, and sole proprietors.

  9. Mandatory documents for GST loans • KYC documents • Business existence and continuity proof • Audited financial documents if fund required is above Rs 20 lakhs.

  10. GST business loans are easy to obtain and can help your business in different ways.

  11. 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- What are the Benefits of Getting a GST Business Loan?

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