Working capital management remains a critical part of an SME’s operations, either contributing to growth or causing a slump. While you monitor cash conversion cycles in your business, it is important to consider the fact that most SMEs in India receive payments only after 90 days of providing goods or services, as per an IFC report. This can cause severe gaps in working capital, leading to delayed payments to staff, reduced raw material and inventory purchase, machinery or equipment shortfalls, and other restrictions that can stunt the growth of your enterprise.
By bridging this gap in time with a working capital loan, you can ensure that your SME’s daily operations remain steadfast and can further pursue new market opportunities. Bajaj Finance Limited, the lending arm of Bajaj Finserv offers small businesses fast and collateral-free finance with a tailored Working Capital Loan that brings numerous advantages to your fingertips.
Get ample finance without risking an asset
First and foremost, there is no need for you to pledge a business or personal asset as collateral for the Bajaj Finserv Working Capital Loan. This frees you from the hassle of selecting a security and also speeds up the approval process, getting you the funds you need faster. This unsecured loan also gives you a substantial sum of up to Rs.30 lakh to meet everyday expenses, be it operating costs, delivery requirements, stock, wages, or vendors. What’s more, it can help you prepare for bulk orders or assist you during the off-season when you face a dip in sales without putting your entire enterprise at risk.
Enjoy speedy processes to attend to time-sensitive needs
Quick access to finances can help your business capitalise on opportunities, cater to lucrative demand or buy needed assets. For instance, an SME engaged in the business intelligence sector may need to deploy critical software to serve clients. Here, investing in data security is paramount, and may require a heavy initial investment. For all urgent needs like these, the Working Capital Loan from Bajaj Finserv is ideal. It allows you to apply by submitting just 2 documents and get money in your bank account in as few as 24 hours!
Repay comfortably by focusing on growth opportunities
To make the infusion of finance not only easy and fast but also convenient, Bajaj Finserv allows you to repay by choosing a tenor that suits your business. You have anywhere between 12 months to 60 months to repay the Working Capital Loan and can use the EMI calculator to plan repayment smartly. What’s more, you even have access to the industry-first Flexi Loan, which allows you to borrow as and when you need from your sanction and pay interest only on the amount you have utilised. This caters to your business’ dynamic needs and can even help you lower your working capital EMIs by up to 45%!
Apart from these benefits, the Bajaj Finserv allows you to manage the loan easily with an online account. Be it checking your loan repayment schedule, principal and interest statements or outstanding balance, you can monitor all needed information regarding your working capital loan from anywhere and at any time. To get started now, simply check your pre-approved offer and enjoy instant approval on a deal that is customised for you. This allows you to avail of working capital fast and expand, diversify and grow your enterprise stress-free!