Business Loan

Reasons Why You Should Go For Festive Season Business Loan Offers in 2022


Festive seasons are around the corner and for small and emerging businesses, a business loan acts as a great facilitator to increase their revenue. Business loans not only give you a monetary advantage but also help you meet your customers’ demands. Still, do you want to know why to apply for a secured business loan during the festive season in 2022? Well, then keep scrolling through this article, you will get your answers in it. 

Looking for a genuine business loan might seem tiresome and on top of that, it is always a debate on what type of loan you should choose. Should you choose a loan based on offers or one that meets your requirements? The question requires detailed analysis which we will be doing in this article. 

In this article, you will come across the definition of a business loan, the benefits of taking it, and why you should give it a go. 

What is a Business Loan and what is its significance? 

A business loan is a financial assistance you take from a lender to invest in your business venture. You borrow money from a lender and use it to buy goods and services, invest it in manufacturing units, or grow your market outlets. The lender charges you a rate of interest on the loan amount and you pay it back in small instalments within a set period. 

Since most business loans are unsecured, lenders don’t ask you for a security fund, a guarantor, or collateral.  An online business loan will act as a great help in the festive season to meet the needs of your customers and maintain your supply of goods. 

What are some of the benefits of taking up a Business Loan?

There are several benefits of taking up a business loan and they are:

  • Quick approval:

Most business loans are sanctioned by banks within a period of one to two days. In case you have a good credit history and a good track record of repaying loans, you can get the approval in even less time. 

  • Low rate of interest:

In India, banks mostly provide you with a low rate of interest to help you focus on growing your venture. The interest rates for a secured business loan in most banks range between 15 percent per annum to 20 percent per annum. If your business comes under the medium, small, or micro category, then you can look for government schemes like the MSME loan scheme. 

  • High loan amount:

This is another advantage of applying for a business loan because you can use a high loan amount to invest in your business. The loan amount can go up to as high as 50 lakhs which in some cases can even increase, depending on your credentials and the offers given by the bank. 

  • No collateral or security funds:

Since this loan comes under the unsecured loan category, you neither have to show collateral nor deposit any security fee. Business entrepreneurs who have just started their journey might not have collateral or funds to deposit as a guarantee. So, this provision helps you surpass this and apply for a business loan. 

  • Hassle-free instalment payments:

You always have the option to tailor your loan type in a business loan according to your suitability. For example, a Flexi facility is one such option that you can opt to make easy for you while repaying your periodic instalments. 

Now that we have discussed the benefits of a secured business loan, it is time for you to know the importance of applying for it during the festive season. 

Why should you opt for a Business Loan in the festive season in 2022? 

  1. To meet consumer demands:

As festival season shows up in the calendar, consumer demands increase likewise. To meet consumer demands and maintain your market you need to produce more goods and services. So, for that, you might require a huge amount of money which you can only get through an online business loan. With this amount, you can invest in all your units and get to meet your customer’s requirements.

  1. Boosting your inventory:

Before the festival season comes into the scenario, a lot of your capital would have been locked up in your inventory. So, this might affect your turnover cycles and therefore impact your sales negatively. A business loan can help you to boost your inventory and at the same time promote more sales and cash flow. 

  1. Investing in equipment:

During the festive seasons, the quantity of equipment you possess might not produce as many goods as your market requires. So, to increase your production and improve the quality of products, you need to source new equipment, and for that, an online business loan will help you. 

  1. Advertising and marketing:

No doubt why big businesses invest 60 percent of their total budget in advertising and marketing their products. So, to fund your marketing and advertising, you need a lumpsum and a business loan is going to help you with it. 

  1. Media management and website creation:

In case you have not yet launched your website, this is the right time for you to do so. A secured business loan will give you capital to launch your website and fund your social media handles. This will bring you better insights and better reach altogether, thereby will help you to connect with more audiences. 


Business loans are of great significance to local businesses and small industries that want to scale up their sales during the festival season. A business loan will not only help you meet your business expenses but will also fund you to reach more customers and increase your market. 

If you are still here, it means you prefer reading articles and blogs on these topics. If so, you should visit Piramal Finance because they have plenty of content regarding personal loans, business loans, different investment schemes, etc.