Why Choose Our Business Loans?

Secured or Unsecured Business Loans: What can you opt for?

• Secured loans

  To get approval for secured loans, the borrower is required to provide a pledge for collateral, like property, vehicles, equipment, or receivables. In case of a defaulter, the lender can recoup the amount by seizing the collateral.

• Unsecured loans

  To get approval for unsecured loans, there is no need for collateral, but the borrower is required to pay higher interest rates due to the lender’s high risk.

What are the Benefits of Business Loans? Understand Before you Apply!

Business loans are important funds required to elevate business growth while empowering the creative minds behind it. They assist businesses in swift operation and management, while investing in other opportunities and remaining competitive in the market. There are many other benefits of applying for business loans and becoming eligible for it.

• Quick Access to Funds

  In case of fund shortages, business loans help to meet all financial requirements for expansion, inventory, working capital, and even buying equipment.

• Constant Growth

  Using loans, businesses can invest in infrastructure, marketing, and even bulk hiring to streamline every single aspect of their operation flawlessly.

• Business Ownership

  By claiming loans, businesses don't need to give up their shares and maintain full control over the business. It is much better than equity funding at the initial stage.

• Flexible Loan Option

  Business loans can be taken in many ways, like term loans, working capital, equipment loans, financing, export factoring, PO financing, and many more.

• Develops Powerful Business Credit

  By timely repayment of all the loan amounts, it develops a trustworthy credit score, helping businesses to easily get large amounts in the future.

• Tax benefits

  Most of the time, the complete interest paid on the business loan is tax-free.

• Fluent cash flow management

  Gives you the upper edge by filling the gap between the seasonal delays and funds receivable.

When Should You Apply for A Business Loan?

Every business should consider the right time frame and situation to apply for a loan. It is essential to clarify the overall growth, cash flow, new opportunities, and the right idea for its repayment. Still, you should have the right strategy and a valid point of claiming a business loan, such as:

• Business expansion

  After the successful launch and development of a profitable business, you may release a plan to expand branches, enter a new domain, and upgrade the facilities and equipment, which can lead to a business loan requirement.

• Upgrading equipment and technology

  Requirements for the latest machinery and equipment via the lease method or buying brand new, and even integrating new technology or software, require a huge amount that can be fulfilled by using a business loan.

• Working capital requirements

  Business loans assist in initiating daily operational work fluently, which generally requires a handsome amount of money. Even during low revenue days, business loans make it easy to fulfill daily requirements.

• Inventory purchase

  Provides full freedom to purchase inventory in bulk before peak season.

• Hiring and payroll support

  Business loans play a pivotal role in bulk hiring for scaling the workforce and ensuring timely payroll to achieve a commanding position while keeping employees motivated.

• Debt consolidation

  In case of any debt repayment, business loans can help you merge two or more interest debts into a single loan, also known as refinancing.

How to Apply for a Business Loan at Credlix?

Credlix is well known for its user-friendly interface and hassle-free process to simplify the business loan approval in a very comprehensive way. Here are the steps to follow:

• Loan application and eligibility check

  You will find a loan application or eligibility form to fill in specific details such as First name and last name as on PAN card, Email ID, Mobile number, Annual turnover, GST number, and required loan amount.

• Upload required documents

  You would be contacted to send your basic documents like PAN card, Aadhar card, GST certificates, recent bank statements, Owned House proof, Income tax returns, and other essential business incorporation certificates for KYC.

• Credit assessment

  Once all the documents are submitted, the financial experts of Credlix will verify and cross-check the creditworthiness of the loan applicant.

• Loan approval and sanction

  Once your business fulfills the criteria of the loan approval process, the loan amount will be directly sanctioned to you via a digital mode of payment to your registered bank account within 48 hours.

• Repayment and monitoring

  Credlix provides a user-friendly and digital dashboard to track your interest, EMI schedule, repayment history, and outstanding balances.