Business Startup Loan: Apply for Small Business Loans

1. Business Startup Loan: Apply for Small Business Loans

2. Apply for Small Business Loans : Business Startup Loans are business financing instruments which help new ventures to grow and flourish. A startup commercial loan provides funds to people that are willing to start out a replacement business or to at least one who has already started a business recently and wishes funding to run their business. • As these loans are specifically designed for the startups hence, it can choose businesses even with no or a touch credit history. • Pros of Startup Business Loans • Easy Access to funds • The equipment acts as collateral • Business owners with no or very less financial history can avail this loan. Apply for Small Business Loans • What you Need to Avail a Startup Business Loan • A solid business plan • A clear approximation of the fund required • Plan showing a clear potential of growth of your business • Clearly defined goals and objective

3. Features of Startup Business loan • In terms of avail, these loan entrepreneurs got to prove their personal credit history and a crisp business plan. Apply for Small Business Loans • The loan is merely approved if the lender can see a possible within the business to earn profit within the near future. • Many financial organizations offer these loan online and if offline it’s a quick process, unlike a traditional commercial loan . • Startup commercial loan requires less documentation. • Flexible tenure period. • Generally, lenders don’t invite any security or collateral for business startup loans and if asked business requirements and machinery also can act because the collateral. • Competitive low-interest rates from other business loans but it also depends upon the individual’s credit history. • Flexible repayment options. • Types of Startup Business Loans • Business Line of Credit • A line of credit is that the same as that of a mastercard . The difference between both is, here the funds can only be used for the business instead of for individual use.

4. Apply for Small Business Loans : The biggest advantage with this loan is that you simply get a maximum limit, and one can withdraw as repeatedly as he/she want within that specific limit as per their requirement. The interest charged is merely on the borrowed amount rather than the utmost withdrawal limit. The borrower also needn’t pay interest on the borrowed amount for a few particular period of your time counting on the lender. This makes it even easier for the startups to tackle their business expenses and that they can easily repay the borrowed amount when the business is settled. Equipment Financing In this loan business equipment acts because the collateral. Since the loan is secured lenders charge lower rate of interest but it also depends on the borrower’s credit history. The borrowed amount are often wont to purchase equipment, inventories then on. The advantage with the equipment financing is that the borrower can claim for the tax break . Apply for Small Business Loans Government Business Startup loans Startup India: This scheme has been started by India to support startups and little industries. The scheme is headed by Small Industries Development Bank of India (SIDBI). The scheme offers Composite loan between ₹10 Lakhs and ₹ 1 Cr to the Entrepreneurs. The scheme covers 75% of the entire project cost.

5. Pradhan Mantri Mudra Yojana (PMMY): This scheme may be a big initiative from our government to push and provides support to the tiny and medium enterprises of your country. PMMY is headed by Micro Units Development and Refinance Agency Ltd. (MUDRA). MUDRA offers incentives under 3 different scheme- • Shishu: Under this scheme loan amount up to ₹ 50,000 are often offered. • Kishor: This scheme can cover the loan amount above ₹ 50,000 but upto ₹ 5 Lakhs. • Tarun: Under these loans above ₹ 5 Lakhs and up to ₹10 Lakhs are often covered. • Bank Credit Facilitation Scheme: This scheme is headed by the National Small Industries Corporation (NSIC). The scheme is aimed to satisfy the credit needs of the MSME units within India who have the potential to grow. The NSIC has partnered with many banks to supply loans to an outsized number of MSMEs. The repayment tenure under this scheme ranges from 5 years to 7 years but are often increased to 11 years within the special cases. Apply for Small Business Loans • Multiplier Grants Scheme (MGS): The scheme is headed by Department of Electronics and knowledge Technology (DeitY). This scheme is applicable to the IT industry , analytics, enterprise software, technology hardware, and AI. Under this scheme, a maximum loan amount up to ₹ 2 Cr per project are often availed and therefore the duration of every project should be two years or but it. Apply for Small Business Loans

6. Contact us UGF-15 Westend Plaza, Kapashera (17.31 km) 110030 New Delhi Email: info@rokdabazaar.com Visit: https://www.rokdabazaar.com/ Call: 011 4020 4544