What are various type of business Loan available?
- Short Term Business Loans It is the kind of loan which is scheduled to be paid within 1 year. When a business isn’t entitled for a line of credit from financial lenders, it can still apply for short-term loan (less than a year) to finance the short period working capital needs. Long Term Business Loans Long Term Loans are commercial loan whioch are used for major investment in the business or in an asset addition. These loans usually have fixed interest rates, along with monthly or quarterly installments schedules and a set maturity date. Startup Business Loans If you have a new business idea for the first time, and you have deficiency in capital? startup Loan can help you in meeting the expenses. Line Of Credit (LOC) Business lines of credit are unsecured debt without any collateral or assets, which the lender can sell to claim in case of default.
How can Business loan help Entrepreneurs?
- Money is a crucial requirement for any kind of business. Although a single person can't fulfill all the financial requirement through bootstrap. Thus business loans help in meeting the business needs and smooth business growth.
How does business loan Works?
- When you require more business capital but you don't have enough finance that your business can afford Then GSB Taxation helps you in knowing the eligibility for a business loan and smooth application processing and approval for that business loan.
Who is eligible for Business loan?
- any type of business can apply for Business Loans as long as it meets all the minimum requirement. Every Business Loan have the different rate of interest based on the term and amount of loan, length of the term and loan size. It all depends on your Business Revenues, Credit Rating and Time in Business.