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Business Loans
Any good organization’s lifeblood is its cash flow. To start a new company or expand an existing one, most companies would need a significant level of working capital. Scaling up often necessitates a cash infusion. As a result, we make sure that we can provide you with a loan that will allow you to take your company to the next stage. Paise Credit takes a unique approach to business lending, and we’ve been assisting our clients in reaching new heights of achievement by assisting them in financing their entrepreneurial aspirations.
A personal loan is based on an individual’s rights and assets, while a business loan is based on the company’s revenue and potential and is issued in the name of the company.
Business loans are divided into the two categories below:
Business Loans Eligibility Criteria:
Most banks have a series of criteria that they use to assess loan applications, but the exact parameters vary.
Age – Most banks would offer business loans to people between the ages of 24 and 65.
Current Business Experience – Banks prefer that the company has been growing steadily for at least the last three years. Obtaining a new mortgage should not be difficult if you can demonstrate consistent billing and sales, as well as benefits. Any banks will lend you up to 60% to 80% of your average annual income.
Total Business Experience – If you have been in operation for at least 5 years, a bank would be more likely to accept you for a loan. Your company loan application would be aided by your versatility in terms of business background and other factors, as well as your positive performance.
