Business loan can always be taken as a short term loan and it can be either secured or unsecured depending upon the profile. Small business owners can be given a provision on daily basis also while big loans can be on monthly installments of Interest for a said period. We have a fixed rate of interest but if the loan is settled before the committed date, interest will be charged on the basis of the days you actually utilized the loan amount and not on monthly basis.
Your business requirements can be short time basis for the following identified reasons –
- Delay in Payments – If you are experiencing a delay in your scheduled payments and you require money for immediate relief as you may have some financial commitments to fulfill. In that case our short term cash loans can be beneficial for you and the interest rate will not be a pinching affair for you.
- Cash Incentives – If you are a trader and stock goods for your store you may be stocking on credit rather than cash where you repay after clearance of the stock and money in hand. Almost all the companies offers some extra incentives for cash payments and this can be a good percentage. If you are a good business man then you can manage to get this discount and enjoy more margins on your sales.
- Specific Event – Every business need extra sticking for festivals and marriage seasons and they can avail such kind of short term loans for a very short period where they are assured of good returns within very short time.
Business loan can be extended also if the relations are good on the basis of repayment of previous loan amounts.