Small businesses often require working capital finance. Harnessing working capital in the right manner will help you grow your business by tapping into available opportunities. To avail aworking capital finance is effectively choice for business growth by leveraging all possible scope of expansion. Working capital finance is also used for consolidation of business operations at times. Working capital has to be efficiently managed in order to help a business expand/consolidate/grow in the right and sustainable manner.
Working capital finance helps in the following ways:
- Clearing Debt- A business may be accumulating debt over a period of time until an amount is reached which can be tough to repay with the use of current funds. Businesses can stand on a firmer footing by taking working capital loans which enable amount repayment through easy EMIs.
- Business Marketing- Businesses need more visibility and hence lead generation, advertising and marketing activities are essential for businesses. Working capital loans enable better advertising and marketing by offering funds for these purposes.
- Office Remodeling/Expansion- In the absence of suitable infrastructure, implementing everyday tasks will be really tough. Working capital can be useful when it comes to remodeling business premises and expanding the same for ensuring more equipment and more employees.
- Buying Inventory/Equipment- Working capital helps in purchasing new equipment and machinery and also for building up inventory. This also helps in terms of upgrading machinery. This helps in meeting seasonal and demand based requirements with ease.
- Funding Sudden Expenditure- There are diverse risks associated with businesses which may lead to unforeseen and sudden expenditure. For meeting unexpected expenditure, working capital is a major plus point.
- Swift Cash- Working capital helps in getting fast cash which is needed for smoothly running business operations. From the approval and application procedure to disbursal of the agreed loan amount, working capital finance is easier to obtain in most cases.
- Line of Credit- Working capital helps in getting a line of credit which ensures higher control over one’s finances. This means that you can withdraw money as many times as required from your credit limit and you only pay interest on the money that you utilize. You only pay interest on the monthly EMIs and the principal amount can be repaid when the loan tenor ends.
- Zero Collateral Requirements- Working capital loans are mostly unsecured and you do not have to pledge any collateral/security to obtain this funding.
- Competitive Interest Rates- The rates of interest are highly competitive in case of working capital loans. This is another major USP of these loans.
You can get a working capital loan for expanding and consolidating your business or even for meeting demand and building up inventory. You can apply for working capitalloan from Bajaj Finserv. You can get a loan up to Rs. 30 lakh and there is the line of credit facility available as well. You can easily apply online and get instant approval within a few minutes.
