5 Financial Solutions that can Help You Grow Your Business

With increasing competition in the market, most small and medium businesses find it troublesome to invest more capital for their growth. Furthermore, market instability and uncertainty are two other factors that act as constant threats to their very existence. It eventually lowers their market performance, thereby, leading to a reduction in revenues.

However, there’s a way to counter these issues. Many leading NBFCs offer various forms of financial aids coming with attractive features and benefits. Owners can opt for such loans and utilise the fund to meet any type of financial requirements. 

If you wish to know further, check out the 5 mostly availed forms of business financing which companies can avail.

1. Business loans 
Business loans are one of the most commonly availed funding solutions that entrepreneurs go for. These are unsecured loans that individuals can avail without pledging any collateral.
Financial institutions approve such loans within 24 hours and can provide up to Rs. 30 Lakh to customers.

2. Machinery loans 
Machinery loans, as the name suggests, can help businesses upgrade or buy new plant & machinery. These loans can be of exceptional help if companies encounter a fault with any critical machinery much-needed for its survival.
Furthermore, machinery loans can also be beneficial for those entrepreneurs who are setting up their business.

3. Asset-based lending 
Asset-based lending is a type of secured loan where individuals acquire financing by pledging their business asset as collateral. These types of loans are mostly availed by companies which encounter problems in their cash flow. However, such situations can also arise from fast growth.
Hence, asset-based lending can come to their rescue and provide the necessary financial support.

4. Working capital loans
As the name suggests, working capital loans can provide that much-needed funding for financial gaps in a business’ working capital. These business loans can be useful for meeting all the daily monetary needs or fixed costs of a company. Such expenses include wages, utility bill payment, rent, etc.

Some business owners also acquire working capital loans for consolidating debts. Businesses which find themselves under substantial debts have to look out for ways to clear them. However, a decreased flow of revenue can restrict them to do so. Moreover, they need to repay their suppliers to maintain stable corporate relations and stop their company from becoming bankrupt.

5. Flexi loans 
Bajaj Finserv offers the Flexi Loan facility to the customers. Here, the borrower doesn’t have to start paying full EMIs as in case of traditional loans.

With Flexi Loans, customers have to pay interest only on the amount withdrawn on a daily basis. Furthermore, they can pay only the interest part as EMIs and refund the principal amount at the end of the loan tenure.

Hence, Flexi Loans help borrowers save up to 45% in EMIs as compared to traditional loans.

Bajaj Finserv Business loan also provides pre-approved offers that reduce the time taken for availing finance by making the process hassle-free. Pre-approved offers are available with business loans, home loans, personal loans, and a host of other services and products.

You can check your pre-approved offer by providing some of your essential details. So, choose the form of financing that suits your requirements the best.