Business loans made easy with the FINCUE app
During the course of your company’s life cycle, you may need to borrow money. It might be for a variety of reasons, including the installation of machinery, the payment of dues, the expansion of the company’s reach, and so on. Business loans are unsecured or secured loans that may be used to support your company’s needs.
These loans are simple to get and frequently assist firms in expanding their operations. The interest rates are modest, and the only thing that matters to the lenders is that you make your payments on time. To qualify for a business loan, the company must be profitable, and the entrepreneur must have a strong credit score.
Applying for unsecured business
On the lender’s website, you may verify your eligibility and apply for a small business loan. After you submit the application, a lender representative will contact you to discuss the next stages in the process.
Applying for secured business
The procedure is identical, with the exception that a secured company loan necessitates the use of collateral. As a result, it’s likely that after completing the online application, you’ll be asked to submit your papers to a lender representative, who will examine them as well as the assets presented as collateral before making a decision. Depending on the sort of assets pledged, these loans might have a term of up to 15 years.
The following documents are necessary for a company loan:
- Basic Know-Your-Customer (KYC) documentation for your company and major candidates
- ITR for the previous two years’ audited financial accounts
- Documents used as a backup
The Repayment Period
The length of time it takes to repay a loan is determined by its duration and EMI. Long-term loans can be returned over a period of 20 years, whereas short-term loans can be repaid within months to a year of being approved.
Conclusion
Fincue assists borrowers in connecting with lenders via the use of a Loan as a Service (LaaS) platform and mobile technology. A digital platform, such as ours, is a convenient method to obtain financing for your business or home. Our motto, “There is a lender for every borrower,” guides us in matching you with the proper lender and financing choices. Are you looking for a house loan?
Please contact us to be connected with the appropriate broker and to discuss your needs. FINCUE has been extremely professional and accommodating throughout the entire process of obtaining loans for investment properties.
