Business loans in Gurgaon

People who want to expand their existing company or start a new one take out business loans for a number of reasons. These are mentioned below: 

To Buy Equipment: Any kind of business, small or large, requires continuous up-gradation of the infrastructure to run and match with the new-age demands optimally. Notably, individuals involved in IT and automobile businesses in Gurgaon face a constant need to buy advanced equipment. This is where a business loan in Gurgaon can be used to buy/lease/replace equipment.

To Purchase Inventory: Small enterprises often require external funding to buy stocks or raw materials. The need is particularly pronounced when one has to meet a sudden, massive demand. Business loans can offer the necessary financial assistance during such situations, and allow businesspersons to capitalise on opportunities adequately.

To Maintain Cash Flow: Business owners need to have a constant flow of cash to maintain the various functionalities, including paying salaries and other day-to-day operations. Short term loans, overdraft facilities, and invoice financing can be beneficial in that regard.

Most lending institutions in Gurgaon offer unsecured business loans of value ranging up to Rs.50 lakh. Individuals can avail the same after satisfying necessary eligibility criteria and furnishing a bevvy of documents, which include the enterprise’s registration documents, audited financial statements, proof of business vintage, etc. One can visit the lender’s branch or apply online for a commercial loan if they meet the above requirements properly.

However, since these loans do not involve any collateral, lenders assume a substantial risk. Plus, the growing numbers of delinquencies and recent economic crisis has made financial institutions warier in sanctioning business loans, especially to small and new enterprises. What’s more, unsecured business loans prove inefficient in mitigating emergency expenses because of the lengthy eligibility check and documentation process.

In that context, secured options like a gold-backed business loan can pose as an ideal alternative. It’s one of the best ways to utilise the equity on gold to address one’s financial obligations without actually resorting to selling them.

Below is a comparative study of business loans and gold loans so that individuals can take an informed decision regarding financing their business.

The benefits of availing a gold-backed business loan in Gurgaon from Rupeek are manifold. These are:

• Minimal documentation: Business owners can avail a gold-backed business loan with Rupeek by merely providing their KYC documents. It makes for speedy processing of a loan, allowing businesspersons to address any emergency timely.
• Instant disbursal: One may need to wait for 3 – 7 days to take out an unsecured business loan. However, with Rupeek, individuals can avail a gold loan within just 45 – 60 minutes.
• Flexible repayment: Mandatory EMI payments can strain one’s cash flow. With Rupeek, borrowers have much more flexibility in repayment. They can repay the entire payable amount as per their convenience any time within the tenure, either in parts or in a single bullet payment.
• Low-interest rate: We offer gold loans at monthly interest rates starting at 0.79%. It is much lower and affordable when compared to unsecured loans provided by banks and NBFCs.
• Highest LTV ratio: Businesspersons can take out a small business loan in Gurgaon equivalent to up to 90% of their pledged gold’s value with Rupeek. By using a gold loan calculator, individuals can easily find out the gold loan amount they are going to get or how much gold is needed to get a certain loan amount.
• Doorstep service: Individuals can avail funds for their business from the comfort of their home with Rupeek’s doorstep gold loan service. A loan manager will visit the person’s residence or office to complete the KYC verification and gold evaluation process, and funds will be disbursed within minutes thereafter.

Besides these benefits, Rupeek also offers an overdraft facility against gold. Enterprises looking to secure a ready source of funds at all points in time can consider this facility to bolster their financial footing.

The gold credit line, also known as Rupeek Quick, is an excellent financing option for enterprises with lengthy cash cycles or firms in their growing stages. Individuals can secure a line of credit by pledging their gold once, and avail funds whenever as per their requirements. It eliminates the hassle of applying for a fresh loan every time one needs external financial backup and helps businesses fine-tune their cash flow.

Below is a list of major localities in Gurugram where businesspersons can avail Rupeek’s services:

• Badshahpur
• Manesar
• Pataudi
• Gurgaon Sector 56
• Sohna
• Gurgaon Sector 33
• Garhi Harsaru
• Gurgaon Sector 17
• Gurgaon Sector 45
• Palam vihar
• Sultanpur
• Wazirabad

Are you looking for the best business loan in Gurgaon? Conclude your search for ‘business loan near me’ in Gurgaon with Rupeek.