Easy Way to Avail a Collateral-free Business Loan in Pune - Loan Trivia


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Thursday 7 December 2017

Easy Way to Avail a Collateral-free Business Loan in Pune

For a new enterprise which is in the initial stages of establishment, a sound business strategy and a consistent cash flow form the backbone of success. It has been observed that maintaining a consistent cash flow can become challenging for the business from time to time. Matters get even more complicated when there is no asset that can help in bringing the much needed capital. This is when a collateral free businss loan in Pune proves to be highly valuable. For business owners in Pune, there are many collateral free finance options to choose from.

The preliminary step to avail a business loan in Pune or elsewhere in India is to assess the financial need and arrive at a practical loan amount. This also helps to identify the loan type to apply to- there are working capital loans, machinery loans, equipment loans, line of credit to name a few.

A key factor that decides the feasibility of the loan is the rate of interest charged by the bank/NBFC. The applicant should thus take a check of the current lending rates in Pune before deciding on a bank/NBFC.

Also Read: How Can I Obtain a Business Loan in Pune with No Collateral
When availing unsecured business loans, the paperwork and documentation formalities take much lesser time as there is no collateral involved. The only documents banks and NBFCs seek in case of such loans are identity proof, bank account statements, audited turnover report, balance sheet, Profit and Loss statements and MOA/AOA as per the case.

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