Business loans are basically those loans which are being provided to help the traders and entrepreneurs to built up or renovate their businesses. Apart from the businessmen and traders the self-employed are also enjoying the facility of getting these loans. There are certain criteria like the financial position of the business, past loan repayment record and loan repayment capacity, if the business fulfils these criteria then it will be eligible to get a loan for business.
Require funds to meet various business obligations but lack sufficient resources? Are unable to keep up your business cash flow? Business loans will provide easy financial aid to solve financial problems that are affecting your business.
Loan amount can be used to meet various business obligations like:-
â€¢ Constructing office
â€¢ Purchasing raw material
â€¢ Asset purchase
â€¢ Machines, tools and equipments
â€¢ Paying wages or salaries
Business loans can be classified into secured and unsecured. Secured loan require you to place any valuable asset as collateral against the loan amount. You can pledge commercial property, machinery, stocks, any other asset or valuable documents as security. Secured loans offer a substantial amount and carry lower rate of interest.
On the other hand, unsecured business loans require no security against the loan amount. These are generally provided at relatively higher rate of interest as they are free from collateral and offer a smaller loan amount.
Axis Bank Corporate Loans
Axis Bank Corporate loans are as follows:
Business Loan for Property: Maximum loan amount is Rs. 5 crores. Repayment tenure is up to 10 years. Interest rates are in tandem with broader external market conditions.
Power Trade: Designed to meet the financial commitments of the trader. Loans may be taken to meet obligations like Export Credit and Letter of Credit. Maximum loan amount is Rs. 2.5 crore payable up to 3 years for Term Loans.
Enterprise Power: This loan is configured to meet the requirements of Micro and Small Enterprises. Maximum loan amount is Rs. 1.00 crore.
Mpower-Term Loan: Loans are granted up to a maximum of Rs. 5 crores. Repayment options are flexible and carry a maximum tenure of 10 years.