Bangalore has been considered the Silicon Valley of India for the IT Industry. In the past few years, many start-ups have mushroomed, catering to the need for employment for a huge pool of educated and uneducated human resources in the country.
The city takes pride in being the leading hub of the startup culture in India and for providing the fastest growing startup ecosystem. Many IT and Non-IT specialists, both worked outside and in Bangalore, after gaining many years of experience start their companies in the city with a small amount of capital.
Karnataka Startup policy launched by the Karnataka government in 2015, has aided many startups in the areas of funding, intellectual property protection, marketing, tax benefits, etc. boosting the healthy innovation spirit of the entrepreneurs
Bangalore city has been also at the forefront of reducing the carbon footprints by supporting the electric vehicle manufacturers through conducive infrastructure and loose regulations resulting in the positive ripple effect in various parts of India
Since these startups are mainly self-funded, it becomes a daunting task for them to maintain the constant need for capital for day to day operations as well as marketing activities to stay competitive in the market.
90% of the startup fails in the first five years of its business and the rest 10% in another 5 years due to the shortage of capital and other financial difficulties. Stiff competition from the big players also makes it testing for these startups to remain sustainable, as they have deep pockets to burn money for marketing and promotional activities.
Consequently, a need for finance for small businesses has risen in the end. To fulfill the same need, we are excited to announce that we are now offering business loans in Bangalore up to Rs. 5 lakhs in just three days*. Yes, business owners in Bangalore can now avail of an unsecured business loan in Bangalore from us.
A rapidly growing town, Bangalore has really come a long way in terms of busy commercial activity. This change for good can be traced back to the evolution of the IT sector in the city, which has promoted the growth of business in restaurants, malls, recreational activities, etc. Keeping this in mind, many individuals have come up with their small businesses in the city.
One of the fastest-growing NBFCs in the country, ZipLoan, offers its services in more than 15 Indian cities. Now it has marked its presence in Bangalore as well. The NBFC already offers its services in Delhi-NCR, Mumbai, Lucknow, Bhopal, Dehradun, Rishikesh, Dewas, etc.
What is a Business Loan?
There are many types of loans, such as personal loan, home loan, car loan, and business loan. A business loan is a special type of loan which is availed to start a new business or to expand an existing one.
There are many times when a business owner wants to grow his business, but lack of funds stop him from doing so. In a situation like this, a business loan can be beneficial for a needful business owner to expand his business.
The central government too is offering many business loan schemes to provide financial assistance to businessmen. These schemes are like Pradhan Mantri Mudra Loan Scheme and Stand-Up Loan Scheme.
How to use a Business Loan?
If a businessman takes a business loan, he is given tax exemption from the government. This way, a business owner can expand his business by availing a business loan without pledging any asset and at the same time, he can also save on income tax.
There are many types of expenses in a business. Many times it happens that the business does not have enough money to meet the sudden financial need. In such a situation, a business loan proves very helpful. Along with this, there are many other benefits of business loans:
- Helpful in Business Expansion: if a business owner wants to expand his business or wants to start a new business at some other location in the name of an already running business, then the business loan can be very useful for him.
- Useful in managing Working Capital: there are many costs involved in running a business. It is necessary to meet all the expenses. In a situation when there is a shortage of cash as all the goods are sold on credit, business loans are very helpful in managing working capital.
- Useful for Purchasing New Machinery: presently, technology rules the world. Many new machines are coming that can boost the production of business instantly. However, the other reality is that technology-based machines are expensive. Nevertheless, it is also true that if technologically advanced machines are not installed within time, there is a risk of lagging behind the competitors. Here, new machines can be purchased using machinery loans.
Avail Business Loan in Bangalore in 3 Days* from ZipLoan
There are numerous MSMEs in Bengaluru. Due to the corporate culture in Bangalore, small and medium businesses mostly supply goods and services on credit. First, the goods or services are supplied, and the payment is received later.
Therefore, MSMEs need contingency funds in case of a lack of working capital. In view of the same requirement of the business owners, one of the leading NBFCs, ZipLoan, provides a business loan in Bengaluru of up to Rs. 5 lakh without any need of hypothecating an asset. Notably, the prepayment charges are also free after the payment of the first 6 EMIs.
ZipLoan knows the importance of time for businessmen in Bangalore. Therefore, it approves and disburses the business loan in just three days* and require only minimal documentation. The list of documents that are sought is as follows:
- Aadhar card and PAN Card
- Previous nine months’ bank statement (current bank account)
- Copy of the ITR filed in the previous year
- Ownership proof of either house or business place
Many businessmen in Bengaluru are not eligible to get business loans from banks and other financial companies. ZipLoan has set its eligibility criteria so easy that it lets the business owners avail a loan who could not avail it from other lenders. Our eligibility criteria are as follows:
- The business vintage of more than two years
- Business turnover of more than Rs. 10 lakhs
- The ITR filed in the previous should be more than Rs. 1.5 lakhs
- The business owner should own either house or business place. (the place can be registered on self, father, husband, wife, brother, sister, son, or daughter’s name)
Benefits of availing a Business Loan from ZipLoan
- Get an instant business loan
- Minimal documentation
- Get an unsecured business loan
- No prepayment charges after the payment of first 6 EMIs
- Complete online process
- Get eligible for a business loan up to Rs. 7.5 lakhs after payment of 9 EMIs