A collateral-free loan is a financial strength for all the business owners or the entrepreneurs. To get a perfect financial backup, these types of business loans can be very effective in the preliminary stage of the venture. The loans are disbursed without securing any kind of collateral in exchange for the amount of the loan. The loans are available in India under the amendment of Credit Guarantee Fund Trust Scheme for medium and small enterprises. The collateral free business loans can be acquired easily from the non-banking financial corporation (NBFC).
Why seek collateral free business loans?
The NBFCs offer these loans to the business enthusiasts in the prime stage of the venture. The collateral free schemes enable the borrower to use the money and stabilize its business. Up to INR 1 Crore can be sought as the loan amount. The loans can be easily sought from Indifi with minimum paperwork. The benefits of seeking collateral free business loans are mentioned below.
- Utmost flexibility
The business owner will not have to be in the burden of the monthly repayment as the rate of interest, as well as, the repayment amount can be customized without any hassle. as per the scheme set by the government, the repayment amount can be restructured as per the convenience of the borrower.
- No collateral
As mentioned earlier, the loans are disbursed without any collateral. Normally, a bank would ask for a mortgage before disbursing the amount. After a lot of paperwork, the borrower may or may not get the chance to enjoy the financial security. In this case, collateral free business loans are ideal for the borrower as the money is disbursed with minimum paperwork and no collateral within few days of application.
In a nutshell
Seeking collateral-free loans is ideal for all kinds of business. Reduce your financial burden from our schemes and enjoy a prospective future ahead.
business loan 