Flexi Business Loans - The Easy Way to Manage Your Business' Finances
Chartered accountants (CAs) and tax consultants who make finances easy for others need someone to do the same for them. With a growth in your practice, it's essential to stay on top of your finances to prosper and boost revenues. While loans are an integral part of a business, what about a loan that allows you to borrow as much as you want, when you want, without worrying about high EMIs and making fresh applications each time you need money?
Flexi business loans from NBFC’s like Bajaj Finserv gives you the much-needed flexibility to utilise money as and when needed. Read on to know how these new-age loans help you effectively manage finances of your practice.
A High Amount to Cater to Diverse Needs
Be it shifting to a new office, buying/leasing equipment, hiring new employees or implementing cyber security solutions, you need a large amount of money for these activities.Flexi business loans offer an amount as high as Rs. 35lakh. This amount helps you cater to diverse needs of your practice.
Quick Financing When You Need the Most
There are occasions when you need access to quick financing. For instance, you may need to hire people on a temporary basis during the period between January and March, when tax filing is in full swing.
Flexi business loans has a flexi loan facility that allows you to withdraw funds as and when required from the approved flexi loan limit. Thus, this loan ensures that you have access to funds when you need it the most.
High EMIs can act as a deterrent in procuring loans. Term loans charge interest on the entire loan amount, thereby pushing monthly EMIs. However, flexi business loans make EMIs affordable as interest is charged only on the amount utilised and not on the entire flexi loan limit.
For instance, if you have used only Rs. 5 lakh of the approved Rs. 10 lakh for buying new furniture for your office, you need to pay interest only on Rs. 5 lakh. Savings on monthly EMIs ensure you maintain a healthy cash flow.
The flexi interest-only loan variant, where you pay only the interest on EMIs and principal at the end of tenor, make EMIs more affordable. The flexible tenors make it easy to chalk out your repayment strategy.
Make Part Pre-payments and Avail Pre-Paid Funds When Required
This is another hallmark of flexi business loans. When you make surplus cash from your practice, you can use it to make part pre-payments and re-avail the pre-paid funds when required. There are zero charges for part pre-payments.
Pre-payment reduces the interest amount thereby helping you to repay the loan faster. There are no restrictions on the number of part pre-payments that you can make. Thus, as you go on making surplus cash, you can make pre-payments and repay the loan.
The fact that flexi business loans are collateral-free make them even more attractive for you. As a CA/tax consultant, it may not be possible for you to pledge a collateral, more so when you have just started practicing. With easy online application and quick approval within 24 hours, flexi business loans make sure you are never short on funds when you need it the most.
To apply for a Flexi Business Loan for CAs from Bajaj Finserv, click here.
To apply for a Flexi Business Loan for tax consultants from Bajaj Finserv, click here.