How to apply for Short Term Loans
Advantages of Short Term Loans
- It can be lifted in short period.
- Bad Credit is also Accepted.
- Very little Paperwork.
- Suitable for a broad range of business goals.
Minimum Requirements for a Short Term Loans
₹ 60 Lakhs
TIME IN BUSINESS
Documents required for Short Term Loans
VOIDED BUSINESS CHECK
PERSONAL TAX RETURNS
BUSINESS TAX RETURNS
PROFIT & LOSS STATEMENT
Frequently asked questions
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 how Does Term Loan works – and what you’ll need to qualify. This will help you figure out whether a term loan is the right product for you or not.
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. When this situation arise, a short-term loan might be the best option.
Whether you need to make an explicit equipment or inventory purchase, want more working capital, need to repay other business debts, are looking to meet tax or payroll obligations, a small business term loan can help you out. And as it turns out, there are few loan use limitation, if any — though, generally speaking, its best practice to spend that money generating more revenue for your business. Since borrowing isn’t free, you want to come out of a loan with more money than you establish with. It’s all in the planning ahead. If used the right way, traditional term loans can help you drive your business to the next level — introducing new equipment, locations, products, or marketing campaigns into your toolbox. To individualise traditional term loans from their shorter-term alternatives, we usually refer to them as medium-term loans instead.
Short-term loans also often come with factor rates instead of interest rates: a factor rate is a percentage that, when multiplied by your total loan amount, gives you an idea of how much you’ll be paying the lender back.
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