When Should You Take a Business Loan?

Business | Tips & Advice 11 January 2022

A business is not only a medium of livelihood, but it is the result of the blood, sweat, and savings of a businessperson. There are many things that are responsible for the success of a business, however, the most important among them is funding. Funds are the basis of everything happening within the company/enterprise. But funds can also be a limiting factor for your business at times and at that point business loans would come to your rescue.

When Should You Take a Business Loan?

A business loan is a one-shot solution to make sure your business faces no issues. Moreover, getting a business loan online at Piramal Finance is the easiest thing to do. Let us take a look at the reasons for which you should take a business loan:

  • For a New Business
    For every business to take its very first step there are a lot of pre-opening procedures that are to be completed and setups that are to be made. Capital is the most important thing to fund all of these and taking a business loan for this purpose can reduce the burden on the owners.
  • For Business Expansion
    In case a business is going well and now the owners would like to expand it , a business loan would help a lot. It can be used to finance the production of new products, promotion and marketing, recruitment, etc.
  • For Renovation Purposes
    It is absolutely important to keep your office spaces updated at all times so as to attract more customers. In case you would like to renovate the place and add in new and advanced equipment, taking a business loan would be the best idea.
  • To Grab New Business Opportunities
    If there is a business opportunity in the market and you are willing to grab it then you might need funds. Business loans are there to fund you everywhere and every time.
  • To Have an Edge Over Your Competitors
    Today when competition is there in every field, staying ahead of your competitors is very important. Digitising your business, installing advanced technology machines, switching to better software, etc., all this can be done with the help of a business loan.

Key Features of Business Loans at Piramal Finance

Here are the following features that will showcase why you should always choose PCHF for a business loan:

  • Wide Range of Collaterals are Accepted
    When you apply for business loans, you have the option of going with the option of collateral. PCHF understands the need of money in business and therefore accepts a wide range of collaterals or property against a secured business loan.
  • Hassle-Free and Quick Approvals
    Unlike previous times, today getting a business loan online has become a relaxed job. PCHF recognises your valuable time and thus, follows the rule of quick approval and disbursal without causing you any hassle.
  • Higher Loan Amounts
    Piramal Finance offers high business loan amounts that can go up to INR 25 lakhs to help cater to the needs of all types of businesses.
  • Personalised Solutions
    With products that are specially designed for customer's benefits, PCHF has a team of dedicated relationship managers who assist the loan aspirant at every stage.
  • Low Interest Rates
    PCHF offers business loans at 12.5% interest for all salaried as well as self-employed personnel.

How to Apply for Business Loan at Piramal Finance?

If you have to apply for business loan online, there are some easy steps to be followed:

  1. Visit the online portal of PCHF and read about business loans
  2. Once satisfied, click on "Quick Apply"
  3. Fill the form with all valid details and submit
  4. Wait for a representative to contact you and further assist you with the process

Conclusion

Business loans are a boon for those businesses that have the required potential but only need a push to go a long way. Piramal Finance provide the best business loans online that come with a lot of benefits. Moreover, the application process of getting a business loan online is indeed easy. So, if you or anyone you know is planning to apply for business loan, PCHF is the place to be.

[Also Read: All About The Small Business Loans in India - Piramal Finance ]

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