Points to consider before getting a business loan.

Every business needs a business plan. Majority of commercial applications require more documents as a proof of identity. If you are finding seamless and quick loan disbursal for your business, then look no further.

Buddy Loan is one of the biggest loan aggregators in India that disburses loans at lower interest rates starting at 11.99% p.a. They also have customised EMI options that help you work your credit score with ease.

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Applying for a business loan gives you numerous benefits like tax returns, interest rate reduction based on credit score, faster approval rate based on reputation of the company.

Availing a marriage loan

Any businessman or an entrepreneur can be accommodated with lower interest rates starting at 11.99% p.a. based on their credit history. Business loan is an unsecured loan, where in you do not need to pledge any asset or provide any collateral.

There are certain factors the borrower will have to look for will applying for businessloan. Using the EMI calculator, pre-plan the wedding expenses by roughly estimating the expenses. The EMI scale is present in every loan site to help you calculate your monthly EMIs, total sum of interest rate and more.

By doing this, you will auto check your credit score and thus it is easier to maintain that too. Research about the loan offers carefully and the EMIs that the financial institution can provide.

Eligibility criteria  

Businessloan is nothing but a personal loan which is availed during the financial shortcomings for business development or launching new sectors of business. There are many competitive interest rates from which you will have to pick the appropriate ones. 

Borrower should bear in mind that he/she should be min 25 years – 60 years old to avail the loan. It is more helpful if the borrower is either salaried or self-employed with a minimum salary of Rs. 20,000/-. The approval rate and interest rate depend on the borrowers’ credit history.

The applicant can avail instant business loans up to Rs. 15 lakhs for an application. The borrower can discuss further with the lender for best EMI options in between the loan tenure of 3 months to 5 years.

EMI & Tenure

Buddy Loan disburses businessloans for a loan tenure of 3 months to 5 years. The better option is that you could tell your lender if there are certain concerns and EMI payment can customise such that it only enhances your credit score.

Conclusion  

With the recent extension of moratorium period several public sector banks, financial institutions and NBFCs will give a margin of time to clear out earlier debts if any and relax for the repayment on the present loan. Business loans are very beneficial if you have a co-applicant and hence the loan amount is huge.