17/04/2021
Small Business Loan
Small business loans, now simplified by Finoaxis Financial Services
Small businesses are the backbone of the economy and an essential source of business and employment opportunities for local communities. With the economy in flux – especially as we adjust to the new normal in a post-pandemic world – it becomes vital for small businesses to have access to loans and working capital to stay afloat and adapt.
Small businesses account for nearly one-quarter of India’s economy, employing more than 500 million workers. The small business sector contributes to 40% of the nation’s industrial output, and 45% of the nation’s exports. In order to to keep supply chains running and manufacturing steady, small business loans need to be disbursed when required.
The informal lending sector in India is plagued by high interest rates, low transparency and unreasonable turnaround times. This is why banks and NBFCs remain an essential source of credit. At Finoaxis Financial Services, we specialise in customised small business loans in India at reasonable rates
Benefits and Advantages Of Small Business Loan
Businesses require funding at various stages - this could be to get your business off the ground, start a new project, expand your operations or even to help cover losses. Here are a few more reasons why availing a small business loan in India can give your business a boost.
Flexibility: There is a wide range of loans available, each with different repayment options, loan sizes and schemes. You can opt for a loan best suited to your business goals.
Easy repayment:
Instead of making a lump sum payment (as if often the case in the informal lending sector), small business loans offer you easy payment instalments which are affordable and accessible.
Reasonable interest rates :
Unlike private lenders, banks and NBFCs offer lower interest rates, taking into account practical factors like tenure of the loan, viability of the business model, financial condition of the company, etc.
Grow your business :
All businesses aim to make more profits, and working capital is what helps drive that. With a small business loan, you can divert funds to areas of your business as you see fit. From investing in infrastructure, machinery and equipment, to expanding your operations and workforce, to investing in marketing campaigns, a loan will give you the funds you need to grow and flourish.
Tax benefits :
Small business loans allow you to save some tax benefit as well. According to some sections of the Income Tax Act, the percentage of profit utilised for repaying the loan amount is exempt from the tax.
What Makes A Finoaxis Financial Services Small Business Loan ?
The Right Option For You? Here are a few reasons why you should apply for a loan with us:
Fast : Loans disbursed in just 3 days
Online application: Our process is digitised without any physical paperwork required.
Easy repayment: We offer easy monthly instalments
Customised and flexible loans: We offer loans tailored to your business needs, anywhere between 1 lac to 10 lac
Zero collateral, preserve ownership: We do not ask for any assets against the loan. Since our loans are unsecured, you will not have to give up your company stock or assets to avail funding. Your business stays in your hands.
Loan tenure: Upto 24 months
How To Apply For Small Business Loans By Finoaxis Financial Services
Here is how to get a small business loan. Our 3-step process is simple and fully digitised. → Fill out the form on whatsapp and well will be in touch with you. → Submit your primary documents online. → Once received, we will process and disburse the loan.
Documents Required For Small Business Loan All you need are: → PAN number → Bank statements → Business registration certificate
Eligibility Criteria For Business Loan At Finoaxis Financial Services, we provide loans to proprietor & LLP firms with a turnover of 3 lac per annum and above.
