Is a Long-Term Business Loan Right for Your Company?
A long-term business loan is a loan that can be repaid after an extension with summed-up interest and penalty fee or simply ‘fee’. When it comes to taking a business loan in Chandauli, people usually prefer a long-term business loan. Bhumi Finance is here to take you through the nuances of a long-term business loan and whether opting for it can be beneficial for your company or not. So, hang tight till the very end!
What is a business loan in Deoria bets suited for?
Usually, such loans are suitable when a borrowing of a large amount is involved. Repayment of a business loan in Ghazipur becomes easy via a long-term business loan EMIs. As per financial experts, the duration of repayment for a business loan in Gorakhpur is whopping five years. However, sometimes, due to the discretion of the lender or some unfroseeanble circumstances, the duration of repayment can get an extension. Businesses that have nurtured strong roots for a long time in an industry have the chances of availing a business loan in Jaunpur easily.
What is the interest rate on a long-term business loan?
Despite both being offered by the same financial body or institution, a business loan in Chandauli has a lower interest rate as compared to other types of loans. In addition to that, it can be fixed as well as floating. The fees involved along with other charges vary from bank to bank. All these things are based on the discretion of the lender as well as the profile of the company in the context. At Bhumi Finance, you can apply for a business loan in Deoria for an interest rate of 14.99% and even less (T&C applied).
Features of a long-term business loan
Summing up, a long-term business loan has a number of lucrative features. These include a low interest rate. A company can get a long-term business loan upto 100 crore INR. This amount more or less is influenced by your business requirements. As aforementioned, a business loan in Ghazipur has a repayment duration of 5 years. Such a loan does require a collateral from the borrower but benefits the borrower with exemption in certain taxes. One can take a business loan in Jaunpur for the purchase of assets, to buy some property or land, for buying heavy machinery or commercial vehicles etc. One should be in between 21 years and 65 years of age to get a long-term business loan.
Documents required for a business loan in Gorakhpur
The documents required for availing a loan of such an exorbitant amount includes the following:
Application form with pasted passport-sized photos. Make sure that the photos are recent.
Documents with verified KYC. In case of business partnership, you need to carry the same for your business partner or director.
Documents of proof: Identity, age, area of residence and income.
PAN card for business coupled with copies of registrations and requisite licenses are required.
Account or Bank statement of previous 12 months.
A clearly laid-out memorandum of association is required.
You require a crystal clear business plan.
In case, the lender asks for some specific documents other than the aforementioned ones, be extra cautious and submit everything with care.
How to apply for a business loan in Ghazipur?
Visit Bhumi Finance at https://bhumifinance.com/.
Check for your company’s eligibility.
If you are eligible, a loan application form will appear on the screen.
Submit this form by filling up all the requisite details and uploading the required documents on the web portal itself.
We will be verifying your application form and documents. This might take some time.
Once verified successfully, your business loan in Jaunpur will be approved and the amount will be credited in company’s bank account within 2-3 business days.
Easy, right? Reach out to us at Bhumi Finance now and get your business loan in Deoria sanctioned now!