Business Finance – 4 Ways You Can Raise Money

Arwind Sharma By Arwind Sharma, 7th Aug 2018 | Follow this author | RSS Feed | Short URL http://nut.bz/1hr49wdi/
Posted in Wikinut>Business>Business Opportunities

Want to know ways to raise money for your business? Read on to know 4 ways to grab easy business finance!

Business Finance – 4 Ways You Can Raise Money

First things first!
Money is the fuel or one of the most important elements that keeps any business up and alive. If you have a business, you should be aware of the business finance options available to help raise money for it and upscale it for growth without issues.
When it comes to finding probable ways to get business finance, you no longer need to rely only on banks to help you provide business finance.

Be it your need to get the small business finance these days or for your large business, you can rely on NBFCs and online lenders.
Non-banking finance companies (NBFCs) and online lenders not only offers you a higher amount of money but even at a lower rate and an extended tenor.

This post can help you know some easy business finance options to raise money for your firm.
Non-banking finance companies (NBFCs)
After the 2008 financial crisis, NBFCs have totally changed the scene of the lending in India. They don’t have rigid lending conditions like banks while processing application for the small business loan and more needs, they also process the loan super quick. Their business finance loan is collateral free which means you don’t keep any collateral or guarantor vouching for you.

If you fulfil the business loan eligibility, you get the finance without issues. Leading names in the NBFCs can let you borrow as higher as up to Rs.30 lakh at reasonable rates and longer tenors.

Business finance eligibility conditions of the NBFCs

If you want to avail a business finance from one of the reputed non-baking finance companies in India, you will need to fulfil some standard loan eligibility such as:

The business loan applicants need to be in the range of 25-55 years
The business or firm for whom you want to secure funds, should have a business vintage of at least 3 years and more to qualify

Your business needs to be filing its Income Tax Returns (ITRs) for at least the past 1 year
You will also need to submit some documents such as KYC, Address, Identity, business existence proofs along with the relevant bank and other financial statements as required by your lender

Online lenders

Online lending is another convenient mode of finance that reaches to under-banked businesses across the globe. It has made them quite popular among small business owners. Their lending norms are normal with faster processing and money disbursement to complement your immediate business finance needs.

Angel investors

When it comes to arranging finance for small business or MSMEs in India, they have emerged as a blessing in disguise to finance many business dreams. They work by investing surplus cash in business in lieu for a specific ROI on it. They also operate individually or in groups, and have a higher risk appetite.

Government endorsed plans

The Central Government of India is working to make the economic climate even favorable for business. You can bask in the advantage of the Pradhan Mantri Mudra Loan Yojana and avail loans under three categories such as:

Shishu (Up to Rs.50,000)
Kishor (Up to Rs.5 lakhs) and
Tarun (Maximum amount of up to Rs.10 lakh)
Under these three business categories, you can avail business finance as per your firm’s needs as the funds of these discussed programs have risen after 2015.

The Bottom Line

Availing a working capital loan or a large business finance for your growing business needs are easily available these days whose details you just went through!

You can apply for one as per your needs and never look back when you need money to scale up your business.

Tags

Business, Finance, Financial Plans, Loans

Meet the author

author avatar Arwind Sharma
Arwind Sharma a passionate writer on finance and closely associated with financial companies. He is still busy in discovering time-efficient finance schemes. To know more about Loan against

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Comments

author avatar Lesa Cote
13th Sep 2018 (#)

It is good to find an interesting post!

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