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What are commercial loans in India ?

In India, you can easily start a company by raising funds. As a business owner seeking funds, you may come across a wide range of loan products in the market. A commercial loan is one such financing option. In this article, let us look at what a commercial business loan is, how it works, and what documents are needed to avail of this loan.

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What are commercial loans in India ?

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  1. THIS IS YOUR PRESENTATION TITLE What are commercial loans in India ?

  2. What is a commercial loan? • Business owners use this loan to meet capital expenditures • They can also use it to finance operational expenses.

  3. Commercial loan features • Has predefined terms and conditions • You need to repay the loan along with interest over a specific time frame.

  4. Different types of commercial loans in India

  5. Term loan • Has a fixed repayment tenure • Can be short-term or long-term

  6. Overdraft facility • Even if your account shows zero balance, you can withdraw funds from it

  7. Letter of credit • If you fail to repay the creditor, the financial institution will pay on your behalf

  8. Bank guarantee • If you fail to meet your payment commitments, financial institutions will compensate the creditor's losses

  9. Collateral-free SME loans • Unsecured loan, suitable for start-ups or SMEs

  10. Construction equipment loans • Secured loan, ideal for businesses wishing to purchase construction equipment

  11. SME credit cards • Available for village industries, retail traders, etc. • Has a repayment tenure of three to five years

  12. Commercial vehicle loans • Can be used to purchase a vehicle for business purposes

  13. Eligibility criteria for commercial loans • Available to businesses and self-employed professionals • You must have high turnover and consistent revenue flow • You should have been in your business for at least a year • You should be an Indian citizen between 21 and 65 years

  14. Documentation for commercial loans • Application form along with PAN card • Business continuity proof • Income proof

  15. Before taking a commercial loan, research well about how it works, the options available, how the loan is approved, and more.

  16. Thank You ! Would Love to hear from you. Hero Fincorp Limited 09, Basant Lok, Vasant Vihar, New Delhi - 110057 Tel : 18001024145 Email : corporate@herofincorp.com Website : https://www.herofincorp.com/ Know More : What are commercial loans in India ?

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