5 Important facts about Business Loan that you should know

Present age is an E-commerce age, almost all the things are available online including food, but still Restaurant’s business is one such business which has it’s own essence. Besides the fact that almost all the varieties of foods are available online, people love to eat in restaurants. More often people who love to eat aim to have their own restaurant. But running a restaurant business is not possible for everyone because it requires a good amount of money. If somehow you gain the success in pursuit of opening a restaurant, fulfilling all the expenses of business including labour, food, repair and maintenance becomes a pain because restaurants are businesses with high overhead costs and a high potential for waste.

Business Loan is a great option for you to manage all those operating expenses, easily. There are numerous lenders offering business loan, but your business requires a lot of time that it may not be possible for you to compare all the available offers yourself. So to make it convenient for you, CreditNation compare all the offers and pick the best one, according to your requirements.

These are some facts which you should know before applying for business loan:

1. Business with bad credit can apply: Among the businesses with good credits, there are also some businesses with bad credits, but even they can apply for loan. All they have to do is to give an assurance to the bank that they’ll be able to make the payments on time, without any delay.

2. Secured Business Loan: In this loan type, an entrepreneur has to give something as collateral against loan amount. That collateral can be anything from a raw material to finish products. The best part of this loan is that you get the loan at cheap interest rates because your collateral will work as a guarantee of repayment from your side.

3. Unsecured Loan: As the name suggest, there isn’t any collateral involve in this loan and because of that interest rate is comparatively higher. Though, it’s also easy to get this loan if you give the assurance of repayment.

4. No Application Fee: Another privileged of business loan is that you don’t have to pay any application fee. You can fill the form online and there won’t be any charges for that.

5. Interest rates and Tenure: Interest Rate varies from bank to bank, it can range from 15% to 30% and the loan amount can be as low as INR 75 thousand to as high as INR 45 Lakhs. Moreover, banks give plenty of time to repay the loan, which can be between 1-7 years.

Who can help you to get the loan without any struggle?

CreditNation is an online service provider of all the financial products including BUSINESS LOANS IN INDIA. Why should you choose us to be your helper to get the loan? Well, because we help you to get the loan conveniently without even going anywhere and furthermore we provide you the transparent information about your application, at each stage. We value your trust and that’s why we make sure that your information is safe with us. So, contact us for any query regarding QUICK BUSINESS LOAN IN INDIA and we’ll be glad to help you to get the loan, quickly.