Every business, irrespective of its size and nature, requires funding from time to time. A business loan is an unsecured credit that can help you meet your growing business’ urgent financial requirements. You can apply for a business loan to usher in the funds required to expand your existing business, increase production, go online, purchase inventory, and much more.
With Loan Magic new business loans, you can secure hassle-free funding and meet the short-term and medium-term financial requirements of your business. Whether you plan to equip your workforce with the latest technology, launch a new store shortly, or manage your company’s cash flow, our business loan offering with structured EMI options and extended tenures can be your perfect companion.
Business loans are usually not secured by collateral as opposed to other loans. If you do not own assets equal to the value of the obtained loan amount, you can still raise capital for your business immediately. Consequently, these loans make funding and sustaining small businesses easier.
Most business owners believe that a business loan comes with a high interest rate and creates a financial burden. Truthfully, many good financial institutions offer interest rates below the industry average.
Delays, especially those caused by insufficient funding, can negatively impact business profits. Almost all lenders offer quick approvals for their business loans to ensure you never encounter this problem.
The EMIs on your loans should never drain your working capital reserves or profits. With a business loan, you can choose a flexible repayment schedule based on your business's cash flow.
Many lenders require only essential documents to commence loan processing and minimize delays. This business loan feature makes it easy to obtain capital quickly.
You can customize the loan amount, tenure, interest rates, and other parameters per your needs and repayment ability. It ensures that the loan terms meet the owner's needs and will not create a financial burden.
At Loan Magic, we provide business finance with simple eligibility criteria and minimal documentation.
Following documents are required for availing a Business Loan
Last six months’ company bank statements
Last two years Income Tax Returns
Last two years balance sheet and Profit & Loss accounts
KYC documents of the company
KYC documents of the business owners
A report with detailed information about how the candidate will utilise the Business Loan
Photo identity proof (Aadhar card/ Driving license/ Voter ID/ Passport)
Bank statements
Business proof
With Loan Magic, you can apply for a housing loan in various ways:
Visiting our Branch
You can visit your nearest Loan Magic branch to apply for a Business Loan offline. Our executives there will guide you through the entire process.
Through the phone
With the customers’ individual desires and needs in mind, our team at Loan Magic guides you at every step and offers specific financial solutions.
We provide Business Loans to help you fulfil your dreams without bothering you with too many formalities. We only follow statutory loan requirements as prescribed by the law.
Business loans typically require minimal documentation and are quickly disbursed so that a company doesn’t have to halt operations or growth plans while waiting for funds.
You can use the business loan money to increase your working capital, which can be a big help if you have a liquidity crunch. You can run daily operations and cover short-term expenses without having to dip into the emergency fund.
Business loans are usually offered without demanding any collateral, provided you meet the eligibility criteria. Because business loans are unsecured, they are an especially attractive option for small businesses that may not possess a lot of assets.
Getting a business loan is as easy as getting in touch with a lender and talking about the possibility of securing financing. As opposed to looking for investors and holding discussions that take months at end, getting a business loan is convenient and far more straightforward. .