Secured business loans are the most economical way to secure working capital, buy equipment or scale up operations for a business. You also unlock the monetary value of your asset in the process.
- In the event that you are unable to obtain an unsecured loan and you have a business owned asset you can pledge, a collateral business loan is the best option.
- Secured business loans in India are safe for the lender given the prevailing tightened lending norms. We are secure and can in some cases overlook personal guarantees.
- The interest rate is lower on the secured business loans in India.
- The tenure offered is also longer than what you would get for unsecured loans.
Secured business loans require collateral to be provided in the form of a security. A secured loan for small business needs a company asset like property, equipment or land to be offered as security in case of default. The interest rates are lower and the tenure is longer. It is a good way to help expand your business.
Secured business loans can be availed by proprietorship, partnership, limited Liability companies having sound credentials. All that you need to do is contact us at 1800 102 1616 for a representative visit. The eligibility criteria for secured loan for small business need to be fulfilled and the asset offered needs to be verified to initiate the process. The asset under consideration, savings, invoices, inventory and any blanket Lien is considered. Once the due diligence is done, you can avail the loan.
Secured business loans are offered with collateral offered by the loan seeker. This collateral can be liquidated if the loan goes into default mode. The risk in offering a collateral business loan is low, so we can offer lower rates of interest. Once the loan is granted, you pay an EMI which comprises of a part of the principal amount, interest and applicable taxes as per the loan schedule.
Small businesses are often managed by family and the structure of the business is largely informal. Currently, we offer secured loan for small business. This loan is easier to procure as it carries lower risk. The rates of interest for a secured business loan are lower as compared to unsecured business loan, and you can opt for a longer tenure.
Yes, you need to provide a collateral for our secured business loans. The collateral has to be put up by the business owner/owners. The asset should be clear and the deed discrepancy free in the name of the borrower. Collateral business loans are cheaper and carry lower risk. Contact our customer care representative for further details.
The collateral business loan requires you to pledge assets like house property, land, or equipment and in some cases gold. The asset should be free and the deed should be in the name of the borrower. You can contact our customer care representative at 1800 102 1616 to know get clarity on the type of collateral before you apply for a secured loan online.
Yes, the collateral has to be more or at least equal to the loan amount of the collateral business loan amount. Get an appraiser to judge the value of the collateral you want to pledge – your house property, land or equipment. Before you apply for the secured business loan online, contact our customer care representative to help you understand the loan amount you can apply for basis the value of your collateral.