Can a loan on property provide the ideal financial assistance for your business?

A business will require a secured flow of finances, no matter how steady or unsteady a market is. While most businesses function off the income and profits that is earned, it is beneficial to have an additional source of financial assistance, such as a loan.

While there are plenty of loans available in the market, the ideal loan you can opt for is the property loan. As a business owner who owns either residential or commercial property, this will work in your favour.

But how can the property loan provide the ideal finance for your business? Here is how:

High loan amount: This is one of the features and benefits of this loan. As the property loan is a secured loan, the value of the final loan amount will be determined primarily based on the value of the asset provided, namely your property. In this case, the value of the property can be determined as anywhere between 65% to 85% of the property value. This would further increase based on the type of property you own and providing as collateral, namely residential property or commercial property. Based on these factors, you can get anywhere between Rs. 15 Lakhs or Rs. 1 Crore as the final loan value. This provides ample amount of finances to match your business requirements, without creating any additional burden on your current finances.

Flexible repayment: Another benefit of the property loan is the repayment tenure. Each different type of loan, whether secured or unsecured, has different loan tenures. In the case of property loans  the tenure is anywhere between 15 years, or until the applicant attains the age of 65 years at the time of loan maturity. In either case, the given loan tenure is the appropriate duration, that will provide one with a flexible repayment tenure, without any added financial worry.

Flexible interest rates: One of the main concerns about applying for a loan is the interest rate. Very often, interest rates provide a challenge when it comes to repaying back borrowed funds. For businesses it provides an additional challenge, especially considering the volatile market conditions, as well as the performance of the said business. With property loans you can be well assured that you will get flexible interest rates, based on your business’s profile and how well your business is performing. This will ensure that your business gets the required financial assistance, without having to worry about dealing with the possibility of a debt in the near future, at the time of repayment.

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Created on Oct 24th 2017 01:49. Viewed 507 times.

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