1.Types of Business Loans Available?
Short Term Loans
A loan which is scheduled to be paid in maximum 1 year. When your business isn’t entitle for a line of credit from financial lenders, you might still have success in getting money from then in the form of a short-term loan (less than a year) to finance your short period working capital needs.
Long Term Loans
Business Term Loans are the definitive commercial loan, commonly used for major investment in the business or in an asset addition. These loans often have fixed interest rates, along with monthly or quarterly instalments schedules and a set maturity date.
Startup Business Loans
If you have a great new business idea for the first time, and you deficit in capital? We understand getting new business loans is always challenging, but we may be able to assist you and your new business with the loans you require.
Credit Line Or Line Of Credit
Business lines of credit are literally unsecured debt, you don’t have to provide collateral or assets, which the lender can sell to claim in case of default. This concept is similar to a business credit card, but getting a cash advance from a credit card is typically pricier.
2.How can Business Loans Help You?
Anyone who owns a business knows:
It takes money to make money. That makes access to working capital necessary — whether you’re just incorporated or have big plans to grow your existing business. In fact, just about every business requires an extra working capital from time to time to make changes in the business. When this situation arise, Business Loans might be the best option. As at Loanraahi you get business loans very smoothly.
3.How Does Business Loans Works?
On occasions when in your business you just need some extra capital or big capital instantly. At Loanraahi as a matter of fact you can get finance quickly.
But how can you find financing that your business can afford?
We deal with all sorts of business here at Loanraahi, and we’ve got some wavelength into which application lead to which loans. Take a look at what you need to qualify. This will help you figure out whether a term loan is the right product for you or not.
4.What Will a Business Loan Cost?
The rate of Business Loans is affected by various ways:
1) What type of Loan you are choosing?
2) Annual Turnover of your company
3) How long you want the loan?
4) What is the credit score of your company?
5) Time is business
5.Who Can Qualify For Business Loans?
Numerous of business can apply for Business Loans as long as you meet all the minimum requirement. Not all types of Business Loans have the same interest rate, length of the term and loan size. It all depends on your Business Revenues, Credit Rating and Time in Business.
In some cases credit score is mandatory due to its Long Term nature.