Short-Term Business Loan

Short-Term Business Loan

With the aim of managing your cash crunch, PlanGrip offers you the short-term loan for your business within 24 hours that has a maturity of one year or less.

 

The stand out in the market with obstacle-free funding solutions to businesses and with the objective of providing small business financial assistance, planngrip supply this loan at terribly competitive interest rates, creating them an excellent a lot of economical choices. excluding giving a commercial loan, our specialist officer is always offered 24*7 support.

 

What Is A Short-term Business loan?

In order to extend assets to hide temporary deficiencies in funds thus, you’ll be ready to meet payroll and different expenses, short business loans area unit quite useful. you’ll be able to even have a demand for short loans to pay your own bills; i.e. to satisfy your own accounts collectible obligations. you will simply want a short loan to even out your income, notably if your company could be an alternate business.

Some Facts You Must Know About Short-term Business Loan

Generally, It totally depends upon lenders to lenders and especially those who judge your eligibility from your business credit score. Here are the following mentioned things you must notice before applying to get a business loan.

 

  • Your Personal credit score matter most for your lenders

  • Business credit

  • Annual revenue or income will be stood out too

  • How long have you been staying or running your business

  • Declared bankruptcy or not?

How Short-term Business Loan Seems Ideal For The Development Of Businessess, Let’s Look At The Reasons Why Is It So?

A short term business finance seems like a great option for any company or business that requires a line of funding. Ultimately, we have made this section so you can have a quick look at all the advantages and the features that are associated with short-term business loans at plangrip.

 

  • Acceptance of bad credit

  • Equated Monthly Installments

  • Available for both small and micro businesses

  • Your repayments will automatically be subtracted from your accounts

  • You can avail this short-term loan at an affordable interest rate

  • You will be able to get your amount just after the approval of a short-term loan within one day.

  • No requirement of additional fee

  • More than 18 years old applicant can apply this short-term loan for business

  • Quite flexible repayment option 12 months – 24 months according to business funding.

  • Tension-free documentation process

Eligibility criteria for short-term business loan

 

In order to get short-term loans for business, you will have to fulfill some requirements or meet some eligibility criteria. For qualifying short-term business loans, you will be required to mention or submit your payment history for other borrowed loans, company’s or businesses, cash flow history, and income statements. 

Below have mentioned some eligibility criteria which you need to fulfill before applying for short-term business loans.

  • You must have a net profit of 1 lakh

  • Work experience of minimum one year would be preferred

  • Annual business turnover around 10 lakhs

  • Requirement of current balance sheet

Documents You Must Carry Out For The Processing Of Short-term Loan For Business

  • VAT returns for the last twelve months

  • 12 months of financial statements is mandatory

  • Quotation of kit, machinery, article of furniture & different assets to be purchased

  • Photocopy copy of residence proof like bank statements, citizen ID card, adhaar card, passport, identity card, electricity bill, rental agreement or driving license

  • A copy mature proof like a tenth certificate, PAN card or credential

  • Identity proof will be asked too  such as adhaar card, passport, citizen ID card or passport

  • 2 passport size photos of the applicant

  • Business possession proof and profile

  • Business registration proof

" class="prev-article">Previous article

editor

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *