How to apply for Long Term Loans
Advantages of Long Term Loans
- It can be lifted in short period.
- Long Term Loans are intercede directly between the lender and the borrower.
- Beneficial for a huge range of business purposes.
- Accounting and Tax Advantages.
Minimum Requirements for a Long Term Loans
₹ 50 Lakhs
TIME IN BUSINESS
Documents required for Long Term Loans
VOIDED BUSINESS CHECK
PERSONAL TAX RETURNS
BUSINESS TAX RETURNS
PROFIT & LOSS STATEMENT
Frequently asked questions
Take a look at how Does Term Loan works – and what you’ll need to qualify. This will help you figure out whether a term loan is the right product for you or not.
Whether you need to make an explicit equipment or inventory purchase, want more working capital, need to repay other business debts, are looking to meet tax or payroll obligations, a small business term loan can help you out. And as it turns out, there are few loan use limitation, if any — though, generally speaking, its best practice to spend that money generating more revenue for your business.
Since borrowing isn’t free, you want to come out of a loan with more money than you establish with. It’s all in the planning ahead. If used the right way, traditional term loans can help you drive your business to the next level — introducing new equipment, locations, products, or marketing campaigns into your toolbox. To individualise traditional term loans from their shorter-term alternatives, we usually refer to them as medium-term loans instead.
Not all term loans are the same, though: the interest rate, length of the term, and maximum loan size depends on your business revenues and credit rating. Since traditional term loans have longer repayment periods than short-term loans, your business’s financials and credit score are more important.
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