Cash flow or liquid funds are lifeblood for a business to survive and thrive. Day to day operations, expansion, emergency expenses all of these pose a threat to a business where funds are tight. Big businesses and enterprise merchants tend to have cash reserves that help them sail through tough spots and benefit in times of opportunity, but, if you own a small or medium sized enterprise, then chances are that you are unable to capitalise an opportunity because of lack of funds.
This is where working capital loans play a significant part, borrowing funds for working capital requirements can give that much needed impetus to your operations and help you create a more robust and successful business. Merchants can avail paperless, collateral free and digital business loans from Paytm through their NBFC/bank partners.
If you are still apprehensive, here are 5 reasons why you should go for a business loan.
Easy to procure
Usually, business loans are easier to avail in comparison to other traditional loans. In fact, Paytm offers a 100% digital process which requires no bank visits and no documentation. Easily available funds can help you resolve crunch situations without hassles.
Can help you utilise your resources more efficiently
Whether it is for the repair of equipment or for hiring skilled talent, cash flow can help you utilise all your resources properly and develop a better product or service and create credibility in the market.
Have an immediate impact on operations
Funds are received in lump sum, thus they can be immediately employed to solve issues and further the business with immediacy.
Cover small businesses also
If your operation is very small, then chances are that availing loans from banks would prove to be quite difficult. Comparatively, getting a loan through Paytm’s NBFC or partner bank is much easier and hassle free.
Repayment terms are flexible
With Paytm, you can choose the loan tenure and also have the option of paying on a daily basis. You can also pay off your entire outstanding amount at any time.
A business loan could help you do all the necessary changes in your business that can take it to new heights, just like it did for this merchant.
If you want to avail a loan, but, aren’t sure about the process, then this video could answer your questions.
Visit your Paytm for Business App to check for loan eligibility.