When it comes to manage business funds in today’s complex situations, you have to make a quick and strategic decision. Business persons can grab the opportunity for appropriate funds in the need of an hour. You should look for quick access to funds, minimal paperwork and affordable interest rates before applying for a business loan. Every business and its requirements are different, so terms and conditions for the loan vary widely from borrower to borrower. Some of the most popular “Business Loans in Tricity“ provided by ShubhBank are unsecured loans, working capital loans, expansion loans, equipment loans and many others. They are provided according to the suitability of a businessperson.

UNSECURED LOANS
This type of loan does not require any collateral or security. It is based on the financial statements of your business that includes some financial documents like income tax returns, bank statement and other documents. The interest rates on unsecured loans are bit higher than the secured type of loans. This loan must be used only when it is not possible for you to take a secured loan.

WORKING CAPITAL LOAN
When your business receives a large order, you may need funds to procure additional labor charges and raw material. Sometimes customer may pay after successful execution of the order. So to balance the gap between order processing and payment time, you can “Apply For Online Business Loan“ which is called working capital loan. You can repay the loan amount after receiving the payment against an order from the customer. You can also roll over the loan again if you repaid earlier loan satisfactorily.

LOAN FOR INDUSTRIAL EQUIPMENT
Whenever you plan to expand or upgrade your business, you need an additional capacity to execute your orders. It may be in the form of plant and machinery, a fleet of vehicles or other expenses. We also provide quick business loans for such one- time purchase that demands huge capital. It can be repaid in the form of easy EMIs. The assets purchased by such loan are hypothecated to the bank as it provides security to the bank.

ELIGIBILITY CRITERIA
Every bank and NBFCs has its own “Business Loan Eligibility“ criteria for their customers. Some of the basic criteria that a borrower must meet to avail loan are listed below:

1. Valid registration of business.

2. Existence of business is must for three years or more.

3. An efficient yearly turnover, but the value varies from one lender to another.

The business loan interest rate varies widely. It could range from 13%-20% depending upon governing factors like individual profile, nature of loan, collaterals provided and financial statements. Most of the financial institutions provide online facilities to apply for business loans. ShubhBank also provides you the small business loan that is best suited to you. You just have to fill up the loan application form on our website providing your basics details like personal information and short description of your business. After successful submission, we will go through approval and disburse the amount within few business days.