Collateral free business loan is simply a loan for which you do not have to pledge any fixed asset as security/ guarantor/ collateral. It is an instant loan as it saves you from elaborate paperwork and from asset evaluation.
Bajaj Finserv business loan is one such example which lets you fund your business needs from business expansion, payroll, hiring new staff to purchase of new machinery, undertaking bigger projects and even to consolidate debt.
Let’s delve into other benefits of collateral free business loan.
#1- Simply no collaterals
This means you can secure a business loan without having to pledge your fixed asset as collateral.
#2- Minimal documentation
Being an unsecured loan, you can easily apply for it online with minimum paperwork. Being collateral free too it saves your time in arranging for additional paperwork. Basic paperwork needed are business proof and your KYC documents.
#3- Lesser processing time
These are hassle-free loans with instant approval in 24 hours. You can apply online easily. Its has an easy eligibility criterion too. Therefore, upon meeting the eligibility criteria and on clearing verification of documents loan is disbursed in short duration to help you attend to your company’s financial needs.
#4- Multi-purpose loans
You can avail high value loan of up to Rs. 30 lakhs. It can be used to cater to a variety of business needs such as increase working capital, lease bigger office space, stock up inventory, hire new employees, business expansion to another city, scale up operations, undertake bigger projects, consolidate debts, purchase raw material for bulk orders and much more.
Also you can check: What are the Basic Criteria for Business Loan Application Approval?
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