Tata Capital offers small business loans to help businesses stay afloat

PTI, Aug 25, 2022, 9:18 AM IST

Tata Capital, a leading finance provider, is offering instant small business loans at attractive interest rates and structured EMI plans. Establishing and running a successful business is in no way an easy feat, funds are needed at every step of the way – from initial operations to expansion. As small to medium businesses continue to contribute to the country’s GDP growth, several lending institutions offer affordable business loans to help these companies stay afloat.

In fact, 2021 saw YoY growth of 30% in business lending by public and private banks. Further, digital lending platforms have simplified the loan approval and disbursal process. No doubt, quick and affordable business loans are allowing businesses to boost their presence in the market.

What is a small business loan A small business loan is an exclusive product designed specifically for self-employed individuals to help them meet their short-term business needs. Tata Capital’s small business loans give new and existing businesses the confidence to manage their company’s financial needs without ever dipping into their savings or availing of other forms of credit.

Small business loans come with unrestricted end-use. One can use the funds as they wish – whether one wants to introduce additional working capital, purchase the latest equipment, invest in inventory, or take on a new project for the business. With a loan amount ranging from Rs. 40,000 to Rs. 1.5 lakhs, one can ensure a quick infusion of funds to their businesses for smooth operations.

Top Features of Tata Capital’s small business loans Digital application To offer maximum convenience to its customers, Tata Capital offers a digital platform where one can apply for a small business loan. Every individual has to visit the website and avail a small business loan in a few simple steps. Moreover, one doesn’t need to worry about hefty business documentation to get the loan. They ask for minimal paperwork, that too, digitally.

Collateral-free loan For most businesses, securing an affordable business loan can be challenging at times as it requires putting a tangible asset as collateral against the loan. Not to mention, lenders ask for clear title to the security offered (in case of a property), which means additional paperwork and legal formalities to verify the said property.

However, with Tata Capital, one won’t have to pledge collateral to avail a small business loan online. They offer simple eligibility criteria to help one get a loan instantly.

Quick processing and disbursal Digital lending platforms have not only made the loan application process simple. But they’ve also reduced the time involved in the approval and disbursal of a business loan. Thanks to Tata Capital’s digital loan processing, one can get a small business loan approved within a few minutes of applying.

Additionally, due to minimal paperwork and verification, loan processing is quick, and the funds are disbursed within a few days. Therefore, people don’t have to wait too long to meet their business’s financial needs.

Affordable One of the best features of small business loans is that it comes with affordable interest rates. Further, one can get a loan at a nominal processing fee and zero hidden charges, making small business loans a convenient source of finance.

Flexible EMI structure Most businesses are characterized by a time gap between when they raise an invoice and when it is paid. Any delay in receiving money can strain business cash flow and affect the loan repayments. However, small business loans come with flexible repayment, ranging from 18 to 36 months.

So, one can choose a convenient loan tenure based on their business cash flow and ensure smooth repayment of the loan.

Documents required for a small business loan One only needs to submit their KYC and a few business documents digitally. Besides, no income documentation is required for a loan amount of up to 1.5 lakhs.

Once the documents are verified, and the loan is approved, one will receive the funds directly in the bank account.

How to apply Visit Tata Capital’s website to start the digital application process. • Enter mobile number (linked to Aadhaar Card) • Choose a suitable business loan offer based on individuals’ requirements • Fill in all the details and complete the digital KYC process Once one confirms the details on the screen, the lender will start processing the request, and one will receive the loan agreement as well.

With a hassle-free application process, quick disbursal, and tailored offerings with no end-use restrictions, a small business loan is the best way to fulfil individuals’ business’ changing financial needs.