Working capital, which is the difference between a business’ current assets and liabilities, is a measure of the liquidity available to meet day-to-day expenses. While it is important for the functioning of every business, it is particularly crucial for small businesses whose needs may be ad-hoc in nature. For example, you may find yourself needing extra working capital to finance operations and overheads during the off-season of your business.

However, a way of meeting your needs efficiently is by availing a loan like the Bajaj Finserv Working Capital Loan. Here are the features that make this loan ideal for your small business.

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Obtain a high-value loan without security

Bajaj Finserv grants working capital loans of up to Rs.30 lakh without requiring you to pledge any collateral. This makes it easy for you to get your hands on a large sum of money that you can used to purchase inventory, raw material or equipment.

Enjoy quick, 24-hour loan approval

This loan lets you benefit from speedy 24-hour approval. All you need to do is meet simple eligibility criteria and submit 2 documents. This allows you to plug gaps in working capital immediately, or cater to last-minute needs without breaking a sweat.

Borrow finances on-the-go

By opting for the Flexi Loan facility you can borrow from your approved sanction as per your business’ needs. The impressive part is that you pay interest only on the amount that is utilised. For example, you borrow Rs.5 lakh from your total sanction of Rs.20 lakh. Thereafter, a few months down the line, you withdraw an additional amount, say Rs.1 lakh. First you will only have to pay interest on Rs.5 lakh and then on Rs.6 lakh, and the balance Rs.14 lakh will require no interest payment till such time that you use it.

Repay the loan as per your convenience

Bajaj Finserv gives you the option of paying the loan comfortably, with a flexible tenor that spans a few years. Moreover, the Flexi Loan facility allows you to repay via interest-only EMIs, and pay the principal at the end of the tenor. This slashes your EMIs by up to 45%, and gives you the leeway to see your business through a lean season comfortably.

Monitor your loan status online

You can track your working capital loan in real time via Experia, Bajaj Finserv’s online customer portal. You can view loan statements online, request funds from your sanction and even make repayments using your account.

Now that you’re well-versed with the outstanding features of a working capital loan, get your small business sailing smoothly by partnering with Bajaj Finserv. If you’re looking for speedy disbursal, get instant approval by checking your pre-approved offer first.

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November 2020