After a certain point in time, it becomes absolutely difficult to be a part of the routine life: back and forth from office to home and home to office. The monotony in work kills the interest. Thus, it is completely normal for the working CAs to get bored with the monotonous nature of their work and end up commencing their entrepreneurial journey. Having said that, entrepreneurship is not an easy-peasy task as you may like to assume. It requires a lot of efforts and dedication, a never-give-up attitude, and lots of funding which is likely the toughest part. Businesses in India need at least 3 years of business vintage to be eligible for a business loan.
However, if you trust your business idea and your capabilities as a CA, you can apply for a Chartered Accountant loan and use the funds for managing your newly formed CA firm. A Chartered Accountant loan is a CA specific funding scheme which is customized as per the specific needs of the professional. The best part, the eligibility criterion, and the documentation are set to make it more accessible by eligible applicants.
Talking about the nature of the loan, the said facility can be secured in nature or vice versa. Therefore, you have to do the necessary research and find out a suitable scheme for yourself. As far as you talk about suggestions, Bajaj Finserv offers collateral-free CA loan with certain notable advantages.
- You get flexible loan facility.
- Longer repayment tenor.
- Higher loan amount.
- Online account management facility.
In the end, check your loan eligibility using the CA loan eligibility calculator and proceed accordingly.
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