Know About Business Loans:

Prepare a Comprehensive Business Plan: Before applying for a business loan, it is crucial to develop a detailed business plan outlining your goals, strategies, and financial projections. This provides lenders with a clear understanding of your business and its potential for success.

Understand Your Credit Score: Knowing your credit score is essential as it directly impacts your eligibility for a business loan. A higher credit score enhances your chances of loan approval, while a lower score may necessitate improvements or affect the terms of the loan.

Determine the Required Loan Amount: Clearly define the amount you need for your business requirements. Assess your financial needs accurately to avoid borrowing more or less than necessary.

Conduct Market Research on Business Loan Options: Explore the available business loan options in the market. Compare interest rates, terms, and conditions offered by different lenders to choose the one that best aligns with your business needs.

Organize and Have Necessary Documents Ready: To streamline the application process, ensure you have all required documents in order. This includes proof of address, photo identity proof of promoters, business proof, income proof, partnership deed for partnership firms, articles of association, memorandum of association, board resolution, PAN card, and other relevant documents.

Features and Benefits of Our Business Loans:

Term Loans: Long-term financing solutions for business needs.
Working Capital Loans: Funding to cover day-to-day operational expenses.
Business Expansion Loans: Capital for expanding and growing your business.
Equipment Financing Loans: Specifically tailored for acquiring necessary equipment.
Invoice Financing & Bill Discounting: Solutions for managing cash flow through accounts receivable.
Machinery Loans: Funding for the purchase or upgrade of machinery.

FAQs

What is the minimum turnover requirement for a Business Loan?

For availing Insure Borrow Safe business loan, the minimum turnover required is Rs.40 Lakhs.

Which entities can avail a business loan?

Our business loan is for Manufactures, Traders, Self-employed professionals, Restaurants, Hospitals, etc.

Is part payment allowed in a business loan?

No, part payment is not allowed for business loans.

What is the minimum and maximum loan limit offered for a business loan?

Insure Borrow Safe Business Loans range from Rs.3 lakhs to Rs.1 crore. We also offer loans against credit card receivables (FCCR) with a maximum loan amount of Rs.3 crore.

Is the interest rate Fixed or variable for business loans?

Business loans offered by Insure Borrow Safe have a fixed rate of interest.