Working capital is the difference between ones current assets and current liabilities, and it is the fuel that keeps a business running. If one’s working capital levels go low, then one’s business operations could grind to a standstill. There are many reasons for working capital shortfalls, such as unpaid invoices, cyclical sales, periods of poor revenue, and other macro factors that put a clamp on the supply chain. However, irrespective of the cause, one way to tide over such a liquidity crunch is to raise funds through the Bajaj Finserv Working Capital Loan facility. Individuals can get funding of up to Rs.45 lakh on easy eligibility terms and through a hassle-free approval process.
Read on to know more about the Bajaj Finserv Working Capital Loan.
Get a loan of up to Rs.45 lakh for diverse needs
As a business owner strapped for cash, one can apply for a working capital loan with Bajaj Finserv and get approved for up to Rs.45 lakh on competitive terms. There is no spending restriction attached to the funds. One can freely use it for purposes such as:
Purchasing raw materials
Stocking up on inventory
Paying overheads like salaries and office rent
Accepting bulk orders
Managing cash flows
Making upfront payments to suppliers
Once one addresses pressing issues, the improved liquidity should bolster their ROI and hence, make repayment easy to manage.
Raise capital without pledging an asset as security
A top advantage of the Bajaj Finserv Working Capital Loan facility is that individuals can avail of a large loan, of up to Rs.45 lakh, without offering a high-value personal or business asset as security. Hence, one avoids the hassle of identifying an eligible asset and having to worry about its status in case things do not go as planned. Further, with no asset valuation, one can save time and obtain funding without delay. Alongside the non-requirement for collateral, Bajaj Finserv does not place any requirement for a guarantor either.
Avail quick funding to clear financial roadblocks
Bajaj Finserv offers easy access to working capital loan financing in that the eligibility criteria are simple. All one needs to do is have a good financial profile, with a CIBIL score of 750 or more, and possess a business vintage of at least 3 years. To prove one’s eligibility, an individual needs to produce basic KYC documents along with proof of business ownership, IT returns, profit and loss statements and balance sheets.
Once one meets these requirements and have their documents in hand, they can apply for a working capital loan online. This is the best way to expedite loan approval. Individuals can get approval within 24 hours of filing the online form, and post document verification, a swift disbursal follows. With simple eligibility, an online application, and a seamless disbursal, one can improve their working capital position without hassles.
Plan for repayment with the EMI calculator
A working capital loan is normally taken for short-term business needs. Nevertheless, it is good to do a cost-benefit analysis before availing of the loan. During this step, individuals should evaluate their ROI and assess how large an EMI they can manage. An indispensable repayment tool that one should use to settle on the right EMI is the working capital loan EMI calculator. It will help optimise one’s monthly and total interest outgo. These work inversely: when one increases, the other decreases. Hence, individuals should strike a balance, as the EMI calculator allows one to tweak the principal and tenor to arrive at the best loan structure.
Opt for flexible withdrawals and repayments
Working capital management can get tricky when one’s funding needs are not set in stone and so their ability to repay immediately is hampered. In such a scenario, the Flexi loan facility offered by Bajaj Finserv can be beneficial. With a Flexi loan, individuals get an approved loan limit, from which they can withdraw funds on the go, as the need arises. Moreover, one is charged interest on the utilised amount only. To make things sweeter, one can repay funds as soon as they come into a surplus as there are no costs attached to prepayments. Additionally, one can opt to pay interest-only EMIs for the initial tenor and thereby reduce their monthly outgo by up to 45%*.
Having considered how the Bajaj Finserv Working Capital Loan facility can help one set sail towards economic growth, apply online for funding. This working capital management solution will provide one with the liquidity needed in no time.
About Bajaj Finance Limited
Bajaj Finance Limited, the lending company of Bajaj Finserv group, is one of the most diversified NBFCs in the Indian market catering to more than 44 million customers across the country. Headquartered in Pune, the company’s product offering includes Consumer Durable Loans, Lifestyle Finance, Lifecare Finance, Digital Product Finance, Personal Loans, Loan against Property, Small Business Loans, Home loans, Credit Cards, Two-wheeler and Three-wheeler Loans, Commercial lending/SME Loans, Loan against Securities and Rural Finance which includes Gold Loans and Vehicle Refinancing Loans along with Fixed Deposits. Bajaj Finance Limited prides itself on holding the highest credit rating of FAAA/Stable for any NBFC in the country today. It is also the only NBFC in India with the international ‘BBB’ with stable outlook for long-term, by S&P Global Rating.
To know more, please visit: www.bajajfinserv.in.
*Terms and conditions apply.
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