Reforms like GST and demonetisation have created a positive environment for business in India alongside the Modi government’s dream initiative: Make In India. Moreover, according to the latest Ease of Doing Business report, India is progressing towards become an open-market economy.
Running your own business in this climate will surely set you up for success. However, this is only possible when you’re able to give your business the funds it needs over time, be it for working capital, to fill in the gap when you are awaiting a sizeable payment, or to pay for inventories in case an urgent order comes your way.
To cash in on this thriving business environment and maximise your growth, avail a Bajaj Finserv Flexi Business Loan and #Finance Your Business The Flexi Way. This loan offers all the benefits of a regular business loan, with extra features that enhance your convenience. Take a look at why this option is your best bet to ensure steady business growth.
Towards the end of 2018, India jumped 23 points to a reach the 77th position in the World Bank’s Ease of Doing Business index that tabulates the performance of 190 countries. Startups and businesses engaging in across-the-border trading contributed the most to this ranking. If you are keen on adding to and capitalising on this, then usher your business into a phase of growth with a Bajaj Finserv Flexi Business Loan. You don’t have to avail the entire loan amount up front with this loan; you can borrow as you need to from the sanctioned amount.
So, as a manufacturer of men’s shirts, assume that you have taken Rs.15 lakh as a loan in anticipation of an overseas order. Now if the client reduces your order by 4,000 shirts then instead of accessing the entire sanction at one go, you can withdraw it in parts. Assume that you just need Rs.7 lakh to fulfil the present order, which is inclusive of the cost you pay for labour, raw material and other ancillary expenses. While you can borrow this amount and meet your needs, the balance Rs.8 lakh will be kept aside for your future needs.
From application to usage and repayment, you can truly #Finance Your Business The Flexi Way with this loan. As per the terms and conditions you only have to pay interest on the amount you use. This means if your entire sanction amounts to Rs.15 lakh and you use only Rs.7 lakh to meet your needs, then an affordable interest will only be charged on this amount. Then, if you withdraw another Rs.5 lakh after 6 months, to set up a second office or fulfil another order, then you will pay interest on a total of Rs.12 lakh. Here, the balance Rs.3 lakh will not attract any interest.
You can #Finance Your Business The Flexi Way with this business loan, courtesy of its lengthy tenor and convenient repayment terms. Not only can you choose a tenor of your preference as per your business’ finances, but you also can pay interest-only EMIs through the tenor and then repay the principal once the tenor is up. This allows you to save around 45% in EMIs over the course of the loan. This flexibility lets you concentrate on urgent business matters, without worrying about accumulating the necessary finances for repayment.
Whether you’re looking to grow your business, expand into online sales, start delivery of your goods directly to customers, need to increase your marketing budget, or bridge your working capital gap, the speed at which you acquire funds can be paramount to your success. For example, today healthcare delivery has been touted to be one of the largest service-sector industries in India. In case you run a pharmacy or medical equipment business and are looking for ways to capitalise on the demand for this service, it’s only natural that you’d be looking into hiring vehicles and delivery personnel, as well as an online order placement and inventory system to set up your delivery arm.
In this journey, you can rely on a Flexi Business Loan for the money you need, as and when you need it. You do not have to pledge any collateral to apply for this loan; all you need to do is apply for it online in a matter of minutes. Once you avail the loan you can view its details conveniently as well through an online account. You can also make repayments and withdrawals as per your convenience, without stepping out of your office.
It is easy to #Finance Your Business The Flexi Way with Bajaj Finserv and ensure that your business evolves as quickly as it needs to. Remember to use the handy pre-approved offer that you qualify for to get the money you require even faster!