HomeBusiness LoanA Business Loan is Crucial to Your Business. Learn Why

A Business Loan is Crucial to Your Business. Learn Why

“A Rolling Stone gathers no moss”. If you’ve heard of this phrase, you know that progress is only achieved if one can continue to grow and innovate. Every businessman knows that stagnation of profits is a death knell for his business. In this competitive world, a businessman must always keep innovating and focusing on growth. One must constantly seek to increase sales and expand operations.

Capital is one of the most crucial components that aid in the expansion of a business, for example without it you would not be able to invest in a Freight Forwarder to enable international goods transport or be able to afford something similar to an Austin office space lease rates if that is where you decide to open an office. However, raising capital can prove to be a hurdle in the case of small businesses. In this article, it explains the importance of building a strong business credit score.

Large corporations have various sources of raising capital like the stock market, lines of credit, and bank loans. Small businesses and MSMEs often struggle to raise capital. Unlike established companies, they may not have the requisite credit history or the documentation to satisfy the criteria used by large banks.

ZipLoan is an RBI-registered NBFC that provides MSME finance loan services to small businesses. ZipLoan understands the needs of small businesses and provides paperless loans to small businesses at very attractive terms.

Some of the features of a paperless loan from ZipLoan are:

  1. Amount: The loans are provided for an amount ranging from Rs. 1-5 lakhs.
  2. Tenure: The loans are provided for a period ranging from 12-24 months.
  3. Collateral Free: The loans are offered without any security. This is an advantage because small businesses often do not have collateral to raise a loan.

Type of Loans

ZipLoan offers the following types of paperless loans:

1. Working Capital Loan

Working Capital is very important primarily for traders because they constantly adjust their inventory based on market trends. Without adequate Working Capital, operations can come to a standstill. ZipLoan offers Working Capital Loans as a part of its MSME finance loan services.

2. Equipment Finance Loan

Expanding operations is necessary for small manufacturers so that they can play on an even footing with their larger competitors. For this reason, ZipLoan offers Equipment Finance loans under its MSME finance loan services, to aid in the long-term expansion of a business.

Why Choose Ziploan For A Paperless Loan?

You may be wondering what differentiates ZipLoan from other MSME finance loan services.

The advantages of Taking a Paperless Loan from ZipLoan Are:

1. Online Application

The application process for a paperless loan is entirely online and one need not make inconvenient personal visits. One can apply through our website or download the ZipLoan App from the Google Play store. The Paperless Loan process makes it easy to avail a loan.

2. Minimal Documentation

We only require the ITR for the last year and annual banking credit statements for a loan application. Our paperless loan application process allows you to upload these documents in soft copy format online.

3. Holistic Credit Rating

We do not follow only CIBIL norms for credit rating. Instead, we have our in-house rating process called ‘Zipscore’ which provides a more accurate credit assessment. This also ensures that we can cater to those small businesses which may not have a high CIBIL score.

Also read: SBI CIBIL Score Check: Free CIBIL Score and Report

4. No Prepayment Penalty

Penalty is not levied for partial or complete payment of loan before completion of tenure.

5. Fast Disbursal

Our loans are typically disbursed within 4 days of submission of documents. Our paperless loan application process allows us to process the application faster. This ensures that businesses can avail finance when they need it most.

We aim to provide necessary financing to small businesses so that they can grow and remain competitive in the market. Visit us for a paperless loan from ZipLoan.

Ajeet Sharma, the founder of Financegab and a well-known name in the field of financial blogging. Blogging since 2017, he has the expertise and excellent knowledge about personal finance. Financegab is all about personal finance which aims to create awareness among people about personal finance and help them to make smart, well-informed financial decisions.


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