that the lender keeps as security while lending t

 ·        No requirement of a collateral

Collateral is an asset that the lender keeps as security while lending the loan amount. Collateral could be in the form of real estate, car, gold or any other property th find at the borrower possesses. On failure of repaying the loan amount, the lender has the right to auction the collateral property to get his or her back. This has kept a large section of the female population from applying for loans. Applying for business loans requires no such thing. You do not have to pay any collateral. Your credit history and income would be enough for applying for house a business loan. One such scheme is the Mudra Yojana Scheme which can be availed by Women Entrepreneurs to get loans below ten lakhs without any collateral.

·        Fast processing

The entire procedure of getting a business loan is quite fast. The verification pr business ocess and business loan approval take only a few days. Hence it is the best option to go for if you have an urgent need of capital for your sprouting business. The Nari Shakti Personal Loan for Women by Fullerton offers instant online approval. You have to fill an online form and upload your documents.

·        Option for an early payment

If your net profits are higher than what you had calculated and you want to repay the loan early with the surplus capital, you can make it happen with business loans. It gives you an option for early payment without paying any extra charges. This could be a great way to save some bucks on the due interest. The Bhartiya Mahila Bank business loan scheme offers loans of up to 20 crores with flexible repayment tenure within seven years. 

·        Online transactions

Most of the business loan lenders have brought up their procedure of lending business loan online with the help of interactive portals. Now the documents could be uploaded online, and the capital amount will be wired to the borrowers account without the need of being physically present. This will be quite helpful, especially for those who live in remote rural areas. 

·        Sufficient time to repay

Take out your business loan calculator and time the EMI’s to get an idea of when you can repay the loan amount with the due interest. A business loan gives you an ample window of 1 to 5 years to repay the loan. Some lenders might even be flexible enough to agree for an extension of the period if you need it. For example, the Mahila Udyam Nidhi Scheme by SIDBI helps women in small business by offering loans of up to 10 lakhs in 10 years along with a moratorium period of five years.

·        Insurance Cover

Business loans for women such as the one provided by Fullerton India also offer an insurance cover along with the loan. In case an unfortunate event results in 

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