A loan for business is a facility that is often availed by many business owners. A business needs funds to keep its doors open for new opportunities and to grow upwards. The funds availed under business loans can be used for numerous other activities as well. That said, there are several industries that require a loan for business more than the others.
Let’s take a look at the top 5 industries in India that often require business funding.
Telecommunication
Telecommunication industry consists of cable companies, broadcasters, and phone companies. India is the second largest telecommunication market in terms of subscriptions, internet subscribers, and App downloads. It is a competitive industry where every service provider needs to stay updated with technology to deliver better communication services. However, funds are required for this constant investment. And through a loan for business, these working capital obstacles can be overcome with ease.
Transportation
The transportation industry is also one of the biggest industries in India. It provides support to the primary and secondary sector. The transportation industry includes trucking, bus lines, taxi services, airline, maritime, etc. The business owners associated with this industry need to buy and maintain vehicles. Access to a business loan can help the business owner to keep up with the customer demands and also improve and maintain reputations among customers.
Healthcare
The Indian healthcare industry is increasing at a good rate owing to different factors, such as greater health awareness, lifestyle diseases, and rising income. Providing state-of-the-art infrastructure and technology are the greatest two requirements of the healthcare industry. This requires a financial partner, a business loan for a medical store or doctors. Equipment or machinery loans are also often required by them.
Agriculture
The agriculture industry is one of the most important pillars of the Indian economy. However, the industry is heavily dependent on services like cold storage and warehousing. Additionally, machinery and equipment is also an important requirement for the agricultural sector. So, agriculture can be benefited from a loan for business by funding the equipment requirement. A small business loan in India can be used to acquire machinery or equipment.
Energy
The demand for energy in India is increasing with the increase in population. The energy companies that can benefit from business loans include those which supply power to homes and businesses. These companies require equipment and machinery. These companies also require working capital which can be funded from the loan amount.
With many loan lenders operating in the market, availing a small business loan is not a tedious process. The borrower can simply apply for an instant business loan online and avail the services in a hassle-free manner.
ZipLoan is an RBI registered NBFC that offers unsecured business loans of Rs. 1-5 lakhs. The business loan eligibility is very basic and ZipLoan offers an online loan application form. The business loan interest rates offered by ZipLoan are the best in the market and loans are disbursed in just 3 days. ZipLoan offers its services in more than 16 cities including Delhi NCR, Mumbai, Jaipur, Lucknow, and Dehradun.
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