Tata Capital offers small business loans to help companies stay afloat
Mumbai, Maharashtra, India:
Tata Capital, a leading finance provider, offers small business instant loans at attractive interest rates and structured EMI plans. Starting and running a successful business is by no means easy, it takes resources every step of the way – from inception to expansion. As small and medium-sized businesses continue to contribute to the country’s GDP growth, several lending institutions are offering affordable business loans to help these businesses stay afloat.
In fact, 2021 saw a 30% year-over-year growth in corporate lending from both public and private banks. Additionally, digital lending platforms have simplified the loan approval and disbursement process. Undoubtedly, fast and affordable business loans allow companies to increase their presence in the market.
What is a small business loan
A small business loan is an exclusive product designed specifically for the self-employed to help them meet their short-term business needs. Tata Capital’s small business loans give new and existing businesses the confidence to manage their business’ financial needs without ever drawing on their savings or other forms of credit.
Small business loans come with unrestricted end use. One can use the funds as one sees fit – whether to bring in additional working capital, buy the latest equipment, invest in inventory or take on a new project for the company. With a loan amount ranging from Rs. 40,000 to Rs. 1.5 lakhs, one can ensure a quick infusion of funds into his business for smooth operation.
Key features of Tata Capital’s small business loans
To offer maximum convenience to its customers, Tata Capital offers a digital platform to apply for a small business loan. Everyone must visit the site and avail a small business loan in a few simple steps. In addition, one does not have to worry about extensive business documents in order to receive the loan. They require minimal paperwork, even digitally.
It can sometimes be difficult for most businesses to obtain an affordable business loan as a tangible asset must be provided as collateral for the loan. Not to mention that lenders require clear title for the security offered (in the case of a property), which means additional paperwork and legal formalities to verify said property.
However with Tata Capital, no collateral is required to avail a small business loan online. They offer simple eligibility criteria to help you get a loan right away.
Fast processing and payout
Digital lending platforms have not only simplified the loan application process. But they’ve also reduced the time it takes to get a business loan approved and disbursed. Thanks to Tata Capital’s digital loan processing, a small business loan can be approved within minutes of applying.
Additionally, with minimal paperwork and verification, loan processing is quick and funds are disbursed within days. Therefore, people don’t have to wait too long to get their business’s financial needs covered.
One of the best features of small business loans is that they come with affordable interest rates. Additionally, one can get a loan with a nominal processing fee and no hidden fees, making small business loans a convenient source of finance.
Flexible EMI structure
Most businesses are characterized by a time gap between when an invoice is issued and when it is paid. Any delay in receiving funds can impact the company’s cash flow and affect loan repayments. However, small business loans come with flexible repayment terms of 18 to 36 months.
This allows one to choose a convenient loan term based on their business cash flow and ensure smooth loan repayment.
Documents Required for a Small Business Loan
All you have to do is digitally submit your KYC and a few business documents. Also, no income documentation is required for a loan amount of up to 1.5 lakhs.
Once the documents are verified and the loan is approved, the money is sent directly to the bank account.
How to apply
Visit the Tata Capital website to start the digital application process.
- Enter the mobile number (linked to the Aadhaar Card)
- Choose an appropriate business loan offer based on the requirements of the individual
- Fill in all the details and complete the digital KYC process
Once one confirms the details on the screen, the lender will start processing the request and one will also receive the loan agreement.
With a hassle-free application process, fast payout, and tailored offerings with no end-use restrictions, a small business loan is the best way to meet the changing financial needs of individuals. Visit Tata Capital’s website for more information https://www.tatacapital.com/.