Filing up business loan application and applying for a business loan is one of the best options the small businesses have when they witness an urgent requirement for additional funds. Running a successful business requires dedication, hard work, and funds. While a business owner can ensure he is dedicated towards the business and works really hard, there can a paucity of funds. The owner’s own funds might help him in the starting, but there would come a time when the funds would not suffice.
In such situations, an MSME business loan becomes the business owner’s saviour. Nonetheless, a business owner might find himself occupied with the business all the time and may not get time to apply for a business loan. To make the situation easy for the business owner, many small business lenders these days offer business loan app for Android.
Also Read: Unsecured Business Loans: How Are They A Saviour For Small Businesses?
A business loan App is an Android App that speeds up the business loan application process. It makes it easy for the borrower to apply for a business loan. Most lending institutions have their own business loan Apps. You can download them easily from the Google Play Store.
Let’s take a look at the features and the benefits of the business loan Apps.
Apply Online
The obvious feature of the business loan App is the user can apply for a business loan online through it. The small business owner can apply for a business loan from the comfort of his office or home and is not required to visit the lender’s office.
Upload Required Documents
The borrower can also upload the soft copies of the required documents for a business loan through the business loan App. All the borrower has to do is click clear pictures of the documents and upload them on the App. So, the business owner is not required to run here and there to get the Xerox of the required documents.
Also Read: Business Loan: How To Get A Business Loan For A Manufacturing Business?
Track Business Loan Application
Most lending institutions offer this feature in their App. The small business owner can track the business loan application on the App. This will help them by getting notified about the stage where his application has reached and much the disbursal will take.
Notification on the Upcoming EMIs
Some Apps also notify the borrowers about the upcoming EMIs. The borrower might forget about the due date in the haste of looking after his business. A missed EMI can have a negative effect on the business owner’s credit report leading to decreased CIBIL score. It will also save them from the missed EMI penalty.
Check Outstanding Balance
The small business owner can check the outstanding balance and avail account statement through the business loan App. The borrower can mail himself the account statement or download it from the App.
A business loan App has certainly turned availing the business loan hassle-free for the small business owners. ZipLoan offers small business loans on easy to fulfil terms and conditions. You can simply download our App, ZipLoan, from the Google Play Store and apply for a business loan in a hassle-free manner. All our business loans products are designed to help the small business owners’ interests at prime importance.
