Do you have an idea but not the funds? Looking to expand your existing retail store but short of money? Then there is a tailor-made solution for you. A business loan can help in uplifting your business while providing better liquidity for your business needs at the same time.

A business loan can be the only step separating you from your goal. Technology has made availing and planning a business loan much easier. With the help of a business loan calculator, you can calculate monthly instalments depending on the amount and tenure.

Who can avail Business Loan?

• Salaried and Self-employed professionals

Salaried self-employed professionals like Freelancers, Chartered Accountants, Company Secretaries, etc. fall into this category.

• Private and Proprietorship firms
• Private limited companies
• Enterprises-the minimum turnover 10 lakhs or minimal annual income of 2 lakhs per annum)
• Individuals over the age of 22.

Final Thought

Before applying for a business loan, it is a good practice to check your requirements. Make a list of profit and expenditures, thorough analysis about loans is advisable and try not to put all of your eggs in one basket. Pay the loan amount as soon as possible. Keep a track of the market and refinance, and finally maintain a good credit score.

Must Read: Important Things You Must Have While Applying for a Business Loan